Kelly, Thompson introduce Short Line Railroad Tax Credit Modernization Act 

WASHINGTON, D.C. -- Today, U.S. Reps. Mike Kelly (R-PA), Chairman of the Ways & Means Subcommittee on Tax, and Mike Thompson (D-CA), Ranking Member of the Ways & Means Subcommittee on Tax, introduced the Short Line Railroad Tax Credit Modernization Act, legislation that would make it easier to keep local rail lines operating and in good repair and improve commerce in communities nationwide.

"Short line rail service connects communities and provides rail service in small towns nationwide, including stops throughout Western Pennsylvania," said Rep. Kelly. "In some cases, short lines provide the only source for local companies to ship their products nationally. This legislation allows rail companies to continuing to provide safe and efficient service and provides a return on taxpayer investment."

“Short line rail is critical for rural and small communities to connect to suppliers and distributors. Expanding our tax credits to help ensure these rail lines are modernized and maintained just makes sense. Thank you to Rep. Kelly for partnering with me to reintroduce this legislation,” said Rep. Thompson.

“The 45G tax credit has been an incredibly successful public-private partnership, responsible for more than $8B in infrastructure investment by the short line freight railroad industry since its inception, but outdated caps and limitations are threatening its potency,” said Chuck Baker, President of the American Short Line and Regional Railroad Association. “We thank Representatives Kelly and Thompson for their bipartisan leadership in introducing this legislation to modernize the credit. The passage of this bill will enable short line railroads to provide efficient and safe access to U.S. and world markets for thousands of industrial, agricultural, and energy shippers and grow the economies of the small towns and rural communities in which they operate.”

You can read the bill here.