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“The American Short Line and Regional Railroad Association (ASLRRA) is pleased to see forward movement in providing certainty for railroads, their employees and suppliers, and their thousands of customers throughout small town and rural America with the introduction of HR 3301,” said ASLRRA President Chuck Baker. “We are eager to work with Congress as it continues the process to finalize legislation that can assure investment in rail infrastructure on a proactive basis. This investment is good for the American economy, it protects the environment and it enhances surface transportation safety.”
In a related development, ASLRRA reports that gains were made in both the House and Senate on co-sponsors for the BRACE Act (Building Rail Access for Customers and the Economy Act of 2019), which would permanently extend the 45G tax credit. The extension applies to expenditures paid or incurred during tax years beginning after 2017. Assignments of miles of railroad track, including related expenditures, for tax years ending after 2017 must be treated as timely if they are made pursuant to a written agreement entered into within 90 days of the enactment of the bill.
In the House, HR 510 was up to 221 co-sponsors, and in the Senate, S 203 was up to 47 co-sponsors. ASLRRA reports that the Chambers, Conlon & Hartwell lobbying team “was busy with meetings on Capitol Hill all week to continue the forward progress of the bill.”
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