RailResource.com, 3/5:
Senators Wyden and Crapo Introduce Bill Extending Short Line Tax Credit
On March 3, Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) and Senator Mike Crapo (R-Idaho) introduced the Short Line Railroad Rehabilitation and Investment Act of 2015, which extends the short line railroad track maintenance tax credit by two years.
The senators were joined by Senators Jerry Moran (R-Kan.), Johnny Isakson (R-Ga.), John Boozman, (R-Ark.), Bob Casey (D-Pa.), Charles Schumer (D-N.Y.) and Richard Blumenthal (D-Conn.) as the bipartisan legislation was introduced.
The track maintenance credit, which expired at the end of 2014, provides short line and regional railroads a 50 percent tax credit for railroad track maintenance expenses, up to $3,500 per mile of track owned or leased by the railroad. . . .
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The ASLRRA also pointed out that Congress must act quickly in 2015 to maximize the capital and maintenance investments that small railroads and their customers can make this year. Identical House companion legislation was introduced by Representatives Lynn Jenkins (R-KS), Earl Blumenauer (D-OR), Rodney Davis (R-IL), and Dan Lipinski (D-IL) on February 4, 2015, and is already cosponsored by 67 U.S. Representatives from 31 states.
Read more here.
Edited by CNJRoss, 05 March 2015 - 11:34 AM.
Add last paragraph
