LRW Honors Amtrak’s Acheson As Railway Woman Of The Year
From Editor-In-Chief Foran: Of Gender Equity And Inclusion
Spotlight On Some Of Today’s Rail Safety Products
Women of Influence in Rail eBook
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry
Stay updated on news, articles and information for the rail industry
railPrime
Rail News Home
Rail Industry Trends
Rail News: Rail Industry Trends
6/25/2009
Rail News: Rail Industry Trends
Short-line tax credit bill garners 122 congressional co-sponsors, ASLRRA says
advertisement
Yesterday, the American Short Line and Regional Railroad Association (ASLRRA) announced it reached a milestone in securing congressional support to extend the short line tax credits.
The Short Line Rehabilitation Tax Credit bill (H.R. 1132/S. 461) now has 101 co-sponsors in the House and 22 co-sponsors in the Senate, ASLRRA said. In addition, more than 1,000 shippers support the legislation, according to the association.
The bill would extend the Section 45G railroad track maintenance credit, which is set to expire on Dec. 31, for three years, allow eligibility for new short lines and increase the credit limitation from $3,500 per mile of owned or leased track to $4,500.
“As our economy is on the cusp of recovery, the tax credit is timely and vital to the small freight railroads and the local businesses and communities that rely on them to ship local products, create local jobs and even divert trucks off of local roads,” said ASLRRA President Richard Timmons in a prepared statement.
The Short Line Rehabilitation Tax Credit bill (H.R. 1132/S. 461) now has 101 co-sponsors in the House and 22 co-sponsors in the Senate, ASLRRA said. In addition, more than 1,000 shippers support the legislation, according to the association.
The bill would extend the Section 45G railroad track maintenance credit, which is set to expire on Dec. 31, for three years, allow eligibility for new short lines and increase the credit limitation from $3,500 per mile of owned or leased track to $4,500.
“As our economy is on the cusp of recovery, the tax credit is timely and vital to the small freight railroads and the local businesses and communities that rely on them to ship local products, create local jobs and even divert trucks off of local roads,” said ASLRRA President Richard Timmons in a prepared statement.
