Reported 1 day ago
A new Senate bill aims to modernize the Short Line Railroad Maintenance Tax Credit (45G), which has driven over $8 billion in private investment in short line rail infrastructure since 2005. The proposed legislation would increase the credit amount from $3,500 to $6,100 per mile, broaden its scope to include all short line tracks, and adjust it for inflation. Supporters argue this change is vital for maintaining competitiveness and enhancing safety in the short line rail industry, which plays a crucial role in connecting local economies.
Source: YAHOO