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Changes to Railroad Track Maintenance Tax Credit

This bill modifies the tax credit for railroad track maintenance. It increases the credit amount and introduces an annual inflation adjustment. This aims to support railway companies in infrastructure investments, potentially leading to improved freight and passenger transport.
Key points
The maximum tax credit for railroad track maintenance increases from $3,500 to $6,100.
An annual inflation adjustment will be applied to the credit amount to maintain its value over time.
These changes apply to expenditures paid or incurred in tax years beginning after December 31, 2024.
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Status: Introduced
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Additional Information
Print number: 119_HR_516
Sponsor: Rep. Kelly, Mike [R-PA-16]
Process start date: 2025-01-16