A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
BULLISHThis bill increases the railroad track maintenance tax credit from $3,500 to $6,100 per mile and expands eligibility, directly benefiting Class II and III railroads and their maintenance contractors. This provides a significant financial incentive for increased infrastructure spending within the rail sector, effective for expenditures after December 31, 2024. The credit is adjusted for inflation after 2025.