ASLRRA: More co-sponsors sign on to short-line tax credit bill

The bill that would extend the Section 45G short-line railroad track maintenance credit recently reached an “historic threshold” when 218 representatives — a majority in the U.S. House — signed on as cosponsors of the legislation, American Short Line and Regional Railroad Association Chairman Ed McKechnie announced last week in a letter to members.

H.R. 721, the Short Line Railroad Rehabilitation and Investment Act of 2015, would extend the tax credit though 2016. Section 45G expired Dec. 31, 2014. Five additional House representatives signed on to the legislation, enabling bill supporters to pass the majority mark, McKechnie said.

"Since Railroad Day on June 4, we have added 35 co-sponsors in the House and nine in the Senate for the companion bill," McKechnie said.

He noted that companion bill S. 637 is cosponsored by 28 senators, still 23 shy of a majority.