Good news, transit riders: The pre-tax transit subsidy will remain at $230 per month through the end of 2011. Originally, the subsidy was scheduled to fall back to $120 per month on December 31st.

The retention of the increased pre-tax transit subsidy was a part of the tax bill signed into law by President Obama earlier today.

A previous effort to extend the pre-tax transit subsidy floundered last month: A House bill to preserve the subsidy solicited 47 supporters and the Senate version of the bill had just 17.