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Tax Credits for Modernizing and Replacing Freight Railcars

This new law introduces a tax credit for companies that modernize or replace old freight railcars with newer, more efficient ones. The aim is to improve rail infrastructure, which could lead to more efficient goods transport and lower costs for businesses, potentially affecting product prices for citizens. The act encourages investment in modern rail stock, which may enhance transport safety and efficiency.
Key points
Companies can receive a 10% tax credit for expenses related to modernizing or replacing freight railcars.
The credit applies to railcars that are more efficient, fuel-saving, or meet new safety standards.
The goal is to encourage the modernization of the rail fleet, potentially improving goods transport nationwide.
The law is effective for three years from its enactment date, with credits applicable to expenses incurred after December 31, 2024.
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Introduced
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Additional Information
Print number: 119_HR_1200
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2025-02-11
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Freight RAILCAR Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1200.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-11.

What are the main provisions?

Key points include:

  • Companies can receive a 10% tax credit for expenses related to modernizing or replacing freight railcars.
  • The credit applies to railcars that are more efficient, fuel-saving, or meet new safety standards.
  • The goal is to encourage the modernization of the rail fleet, potentially improving goods transport nationwide.
  • The law is effective for three years from its enactment date, with credits applicable to expenses incurred after December 31, 2024.
What is the specific legal status?

The current status is Introduced.

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 Rep. LaHood, Darin [R-IL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Transport Economy