Suddenly companies would have good reason to push for affordable houses, public transit hookups, etc. in rich areas. Or maybe they'd start lobbying the cities to build better bike infrastructure. Or maybe it would all be terrible, I honestly don't know.
Alternatively: require that companies add hours to your timecard equal to your average commute time (we'll be handwavey about how this is calculated). Companies would probably only hire people who live near them which wouldn't be ideal, but maybe it would also encourage them to advocate for easier transit and what not.
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