Why an Obscure Rail Tax Credit Should Matter to Truckers
WASHINGTON – The railroad industry descended upon Congress on Wednesday for its annual lobbying event, aiming to present their concerns directly to elected officials.
The industry's agenda was a familiar one:
* An increase in the 45G tax credit.
* Consistent funding for CRISI and other federal grants.
* Reforms to permitting processes.
* Restrictions on truck size and weight.
Organized by the American Short Line and Regional Railroad Association, 'Railroad Day on Capitol Hill' involved 380 participants who held 330 meetings with members of Congress and their staff. Attendees represented a wide spectrum of the industry, from small short-line railroads to major Class I carriers, as well as suppliers, engineering firms, regulators, consultants, and preservationists.
At the top of their list, the industry is advocating for the modernization of the Short Line Tax Credit, known as 45G. This credit is a vital funding source, reimbursing 40 cents [on the dollar for eligible track maintenance and improvements].