45G gains ground in Senate

The Senate Finance Committee on July 21, 2015 met to debate S. 637, legislation put forward by Chairman Orrin Hatch (R-Utah) to extend expiring tax credits, including the Section 45G Short Line Tax Rehabilitation railroad track maintenance credit. 45G has been publically endorsed by 38 Senators who have cosponsored S. 637, a bill by Sens. Mike Crapo (R-Idaho) and Ron Wyden (D-Ore.) to extend the credit.

45 G tax credit extended through 2014

U.S. Senate approval Tuesday, Dec. 16, 2014, of 45-G, by a 76-to-16 vote, has assured passage of the measure, part of H.R. 5771, The Tax Increase Prevention Act of 2014, and providing a fiscal boost to freight railroads, particularly short line and regional operations.

Commentary

Electric Harley Davidsons, NASCAR track upgrades, chick flicks, Puerto Rican rum—and small-road tax credits

If you think new rail, crossties, and spikes for regional and short line railroads, electric power for Harley Davidson motorcycles, upgrades for NASCAR race tracks, chick flicks at the cinema, and a couple of shots of Puerto Rican rum in your Coke have little in common, think again.