Charlie Rangel's silver '72 Benz has been collecting dust in the underground House garage for years, in violation of the chamber's 45-day storage rule. The Post reports there are tax implications:
Writes Daphne Retter:
"A House website on parking regulations informs anyone with a space that, under IRS regulations, the benefit of the free parking is considered 'imputed income' and must be declared to the government.
The spaces are valued by the House at $290 per month, the site says — about the monthly cost of leasing a space in a private D.C.-area garage.
If the car has been in that space since its license plates were surrendered four years ago, the imputed income would be nearly $5,000. "
It's hard to see how this pushes Rangel off his perch at Ways and Means, especially given the strong backing Rangel received earlier this week from the Congressional Black Caucus. But it can't help — and it furthers the perception that the Harlem Democrat has a nasty habit of viewing public accomodations as private perks.