Business Leaders Push for State Tax Credit to Combat Rising Traffic on I-25
Projected Traffic Increase Spurs Call for Greater Use of Alternative Transportation Options
According to The Denver Post, to tackle increasing traffic congestion along Interstate 25 in south metro Denver local business leaders are urging more companies to use a state tax credit aimed at reducing single-occupant car commuting. Denver South a group focused on economic and transportation issues in the area is promoting the Alternative Transportation Options Tax Credit. This tax credit offers a 50% discount on expenses up to $125,000 each year for businesses that encourage employees to use alternatives like EcoPasses, e-bikes, or vanpool programs. Despite the high traffic and forecasts for worsening congestion, few businesses are taking advantage of this opportunity.
Traffic in the I-25 corridor which covers parts of Denver, Arapahoe, and Douglas counties is expected to grow significantly. Vehicle counts are projected to rise from 252,000 to 289,000 daily by 2050. The highway, which was built to handle about 200,000 vehicles a day is already overloaded in many areas. David Worley president of Denver South stressed the need to address these traffic issues as the economic health of the region relies heavily on this crucial corridor. The tax credit is intended to help ease traffic by encouraging companies to support alternative transportation options for their workers.
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$62,500 in Tax Credits Available: Denver South Business Leaders Urge Companies to Use Alternative Transportation Options to Tackle Growing Traffic Congestion! (PHOTO: The Denver Post)
Denver South Urges Increased Participation in State Tax Credit to Address Traffic and Emissions
The tax credit program which was extended through 2027 was created by legislation in 2022. It came as a response to earlier proposals that would have required businesses to cut down on employee commuting miles. Denver South and other business groups supported this voluntary program as a more adaptable solution. Although this tax credit is an important tool for managing traffic growth and reducing greenhouse gas emissions the low current participation is concerning. To improve this Denver South has been organizing informational sessions to boost awareness and encourage more businesses to use the tax credit.
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