The time is now, say the 1,000 railroad and supplier members of the American Short Line and Regional Railroad Association (ASLRRA), for Congress to act on the Short Line 45G tax credit, expired since December 2017.
When last we heard from American Short Line and Regional Railroad Association (ASLRRA) President Chuck Baker, he was testifying before the Senate Commerce Committee, Subcommittee on Transportation and Safety on the role Class II and III railroads play in supporting intermodal connections across the U.S. surface transportation network. He also urged support for the Short Line 45-G Tax Credit.
On the heels of Tuesday’s House Ways and Means Select Revenue Measures Subcommittee hearing on Temporary Policy in the Internal Revenue Code, American Short Line and Regional Railroad Association President Chuck Baker submitted comments to Congress to take action on tax-extender policies that include the 45G Short Line Tax Credit.
In one of his first appearances before Congress as President of the American Short Line and Regional Railroad Association (ASLRRA), Chuck Baker testified before the Senate Commerce Committee, Subcommittee on Transportation and Safety on the role Class II and III railroads play in supporting intermodal connections across the U.S. surface transportation network.
On Feb. 11, HR 510, which calls for permanence of the 45-G short line tax credit, formally received its 100th co-sponsor. The bill, introduced Jan. 11 by Reps. Earl Blumenauer (D-Ore.) and Mike Kelly (R-Pa.), “has rapidly garnered significant bi-partisan support, as it has every Congress since the credit was introduced in 2004,” said the American Short Line and Regional Railroad Association (ASLRRA). “House support for this legislation is growing at a record pace, with 106 co-sponsors in just four weeks.”
UPDATE: “Knock, knock.” Seriously, if you’re awaiting a “Who’s there?” response from many railroad-important federal agencies, you ain’t gonna get one, because, quite literally, there’s nobody there.
The regional and short line railroad investment tax credit (known as 45G for its provision in the Internal Revenue Code) was signed into law by President Trump following its unexpected insertion into the massive two-year Bipartisan Budget Act of 2018 passed in the predawn hours Friday, Feb. 9, by the House and Senate.
American Short Line and Regional Railroad Association (ASLRRA) President Linda Bauer Darr on Oct. 4 testified before the House Committee on Transportation and Infrastructure, Subcommittee on Railroads, Pipelines, and Hazardous Materials in support of the infrastructure needs of Class II and III railroads.
The Trump Administration on April 26 released a proposed overhaul of the federal income tax system that promises to simplify the tax structure as well as reduce the rate at which large corporations are taxed to 15%.
On Oct. 15, 2015, U.S. Congressman Donald Norcross (D-NJ-01) joined National Railroad Construction & Maintenance Association (NRC) member—the Railroad Construction Co. of South Jersey (RCCSJ)—for a tour of its facility and project at the Port of Paulsboro.