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Increased Tax Credit for Railroad Track Maintenance and Inflation Adjustment.

This bill significantly raises the tax credit available to railroad companies for maintaining their tracks, increasing the maximum amount from $3,500 to $6,100. The goal is to incentivize greater investment in rail infrastructure, potentially leading to safer and more efficient freight transportation. Effective from 2025, the credit amount will also be adjusted annually for inflation to maintain its real value.
Key points
The maximum railroad track maintenance tax credit is increased from $3,500 to $6,100.
An inflation adjustment mechanism is introduced, ensuring the credit amount keeps pace with rising costs starting in 2026.
The reference date for qualified maintenance expenditures is updated, modifying the rules for cost qualification.
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Expired
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Additional Information
Print number: 118_S_5008
Sponsor: Sen. Wyden, Ron [D-OR]
Process start date: 2024-09-10
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5008.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-10.

What are the main provisions?

Key points include:

  • The maximum railroad track maintenance tax credit is increased from $3,500 to $6,100.
  • An inflation adjustment mechanism is introduced, ensuring the credit amount keeps pace with rising costs starting in 2026.
  • The reference date for qualified maintenance expenditures is updated, modifying the rules for cost qualification.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Wyden, Ron [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Transport