Reps. Lipinski, Jenkins, Blumenauer, and Davis Introduce the Short Line Railroad Rehabilitation and Investment Act (February 4, 2015)
Today, Congressman Dan Lipinski (D-IL), Congresswoman Lynn Jenkins (R-KS), Congressman Earl Blumenauer (D-OR), and Congressman Rodney Davis (R-IL) introduced H.R. 721, the Short Line Railroad Rehabilitation and Investment Act of 2015. This legislation would extend the Section 45G (26 USC 45G) short line track maintenance tax credit that expired at the end of 2014.
“The Short Line Railroad Rehabilitation Tax Credit has been critical in boosting private investment in rail infrastructure,” said Congressman Dan Lipinski (D-IL). “In the Chicago area, the tax credit has been used to reduce congestion, increase safety, and improve local business competitiveness. Let's continue to put people to work and improve American transportation by enhancing and extending the Short Line tax credit.”
“The Short Line Rail Road Tax Credit helps maximize private infrastructure investment and allows these railroads to provide their customers with more customized and competitively priced service,” said Congresswoman Lynn Jenkins (R-KS). “This bipartisan proposal ensures the continuation of the vital link between our communities and the national freight railroad network.”
“I am proud to support our nation’s short line railroads. These successful small companies supply an invaluable service to our nation’s rail backbone,” said Congressman Earl Blumenauer (D-OR). “By leveraging this tax credit to redevelop track and track spurs critical to the first and last mile of connectivity to factories, grain elevators, power plants, refineries, mines, and other facilities, these companies provide the key transportation link for rail customers employing more than one million Americans. I look forward to working with my colleagues to extend this successful program.”
“Promoting and investing in our infrastructure is a common-ground issue and I am proud to support this effort to strengthen our short line railroads,” said Congressman Rodney Davis (R-IL). “Freight railroad tracks keep our economy moving by connecting farmers and businesses in rural Illinois with the rest of world. By providing more certainty in the tax code we can boost capital investment on our short line railroad tracks.”