ShareThis The Need to Extend The Short Line Railroad Rehabilitation Tax Credit05/20/2010
Mr. LIPINSKI. Mr. Speaker, investing in transportation and infrastructure is one of the best ways to put people back to work while increasing our global competitiveness. These investments must be made not just publicly but also by private companies. So we need to support policies that encourage private investment.
One such policy is the Short Line Railroad Rehabilitation Tax Credit, which has been critical in boosting private investment in rail infrastructure. In Chicagoland, which suffers greatly from rail congestion, this credit has been put to good use by railroads such as the Belt Railway Company and the Indiana Harbor Belt. These railroads have made improvements that reduce congestion, boosting local business competitiveness and easing traffic on the roads.
Unfortunately, this credit expired at the end of last year. So we must act now. Let's help put people to work and improve American transportation and enhance and extend the short line tax credit.
(May 20, 2010)