|Mileage Reimbursement Rate Increases|
Mileage Reimbursement Rate Increases
The General Services Administration (GSA) has followed the IRS in issuing a mid-year adjustment to the mileage reimbursement rate for federal employees who use their own vehicles for business travel.
Starting July 1, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year.
The IRS announced the update one day after NTEU wrote a letter requesting a hike in the rate, citing higher gas prices.
The federal government’s mileage reimbursement rate matches the amount set by the IRS as the maximum rate allowed to be deducted as a business expense.