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13 amount for transportation in a commuter highway vehicle and any transit pass is $325. The monthly limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $325. .18 Income from United States Savings Bonds for Taxpayers Who Pay Qualified Higher Education Expenses. For taxable years beginning in 2025, the exclusion under § 135, regarding income from United States savings bonds for taxpayers who pay qualified higher education expenses, begins to phase out for modified adjusted gross income above $149,250 for joint returns and $99,500 for all other returns. The exclusion is completely phased out for modified adjusted gross income of $179,250 or more for joint returns and $114,500 or more for all other returns. .19 Adoption Assistance Programs. For taxable years beginning in 2025, under § 137(a)(2), the amount that can be excluded from an employee’s gross income for the adoption of a child with special needs is $17,280. For taxable years beginning in 2025, under § 137(b)(1) the maximum amount that can be excluded from an employee’s gross income for the amounts paid or expenses incurred by an employer for qualified adoption expenses furnished pursuant to an adoption assistance program for adoptions by the employee is $17,280. The amount excludable from an employee’s gross income begins to phase out under § 137(b)(2)(A) for taxpayers with modified adjusted gross income in excess of $259,190 and is completely phased out for taxpayers with modified adjusted gross income of $299,190 or more. (See section 2.04 of this revenue procedure for the adjusted items relating to the adoption credit.) .20 Private Activity Bonds Volume Cap. For calendar year 2025, the amounts used under § 146(d) to calculate the State ceiling for the volume cap for private activity bonds is