Tax Credit for Freight Railcar Modernization: Boosting Rail Transport Efficiency.
This act introduces a tax credit for companies that modernize or replace old freight railcars with newer, more efficient ones. The goal is to improve rail infrastructure and boost commercial activity, potentially leading to more efficient goods transport and lower costs for consumers.
Key points
Businesses can receive a 10% tax credit for expenses related to modernizing or replacing freight railcars.
The credit applies to railcars built after the act's enactment, replacing two older railcars, and meeting specific performance requirements.
A maximum of 1,000 railcars per taxpayer can qualify for the credit in a given tax year.
The act aims to support investments in modern rail transport, potentially impacting supply chain efficiency and the economy.
Introduced
Citizen Poll