Bill · S. 1532· Senate(119-S-1532)

A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

Age: 75 years

Idaho

Introduced: 4/30/2025
Last activity: 4/30/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Mike Crapo
Cosponsors: - 29 - 18

Taxation

Introduced
In Committee

What this bill would do

This bill aims to amend the Internal Revenue Code of 1986 to change the railroad track maintenance credit. It proposes increasing the credit amount from $3,500 to $6,100. The bill also introduces an inflation adjustment mechanism for taxable years beginning after 2025. Additionally, it modifies the date for qualified railroad track maintenance expenditures. These changes are set to apply to expenditures incurred in taxable years starting after December 31, 2024.

Yes

Would business owners be better off under this?+1
The increased tax credit provides a direct financial benefit to businesses involved in railroad maintenance.
Is this likely to grow the economy?+1
The increased credit for railroad maintenance may provide a minor stimulus to the transportation infrastructure sector.
Does this improve buses, trains and other public transport?+1
The bill supports railroad track maintenance, which indirectly aids the efficiency of rail-based transit systems.