We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations…
—President Obama in his second inaugural address, Jan. 21, 2013
The President got a good deal of well-deserved credit for elevating climate change as a major issue in his second inaugural address a year ago. But is he really doing anything to live up to these strong words?
Recent developments cast some real doubt.
I realize the current political environment isn’t exactly conducive to sweeping climate change legislation like a cap-and-trade bill, a major gas and carbon tax, or bigger government investments in wind and solar. But if the President is really serious about fighting to protect the environment, why not at least work to save a modest tax credit for those commuters who utilize public transit? After all, everyone can agree that public transit reduces pollution.
Still, somehow last month Congress allowed a tax credit for public transit riders to expire, and the President needs to hold their feet to the fire on this one. The tax credit allowed both transit riders and drivers to set aside $245 a month from their salary for commuting costs. As with flexible spending accounts for medical expenses, these plans are managed by employers. Employees win because the credit reduces their taxable incomes; employers win because it reduces their payroll taxes. Who loses? Well, no one really.
Yet at the end of last December public transit riders lost big. While commuters who drive saw the amount they can set aside per month rise to $250, public transit riders saw that slashed to $130 a month. In essence, the government is incentivizing driving on your own over taking public transit, which makes no sense.
Of course, the responsibility lies with Congress to extend the tax credit. But by making this a major policy issue in speeches, and with a concerted push by his White House, President Obama ought to be able to get this tax credit extension through Congress. After all, Democrats are eager to do anything they can to fight climate change and Big Oil. Republicans are loath to see anything even resembling a tax increase. Isn’t this a place where we could get some common ground?