Freight RAILCAR Act of 2021
- Last Action
- 3/29/2021
Actions
- 2021-03-29Referred to the House Committee on Ways and Means.
- 2021-03-29Introduced in House
- 2021-03-29Introduced in House
CRS Summary
As of 2021-03-29 (00)
Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2021 or the Freight RAILCAR Act of 2021
This bill provides a new tax credit for 50% of freight railcar fleet modernization expenses. The bill defines freight railcar fleet modernization expenses to include amounts for railcar replacement and modernization, railcar scrap amounts, and for railcar facility and technology modernization.
The Department of the Treasury must report to Congress on the credit to provide information on the number of times the credit was claimed and the number of railcars scrapped or built as a result of the credit.
Cosponsors (20)
- Darin LaHood (R-IL)
- SANFORD BISHOP (D-GA)
- EARL BLUMENAUER (D-OR)
- Suzanne Bonamici (D-OR)
- Eric Crawford (R-AR)
- Rodney Davis (R-IL)
- Louie Gohmert (R-TX)
- Donald Payne (D-NJ)
- Terri Sewell (D-AL)
- Jackie Walorski (R-IN)
- Randy Weber (R-TX)
- Roger Williams (R-TX)
- Troy Nehls (R-TX)
- John Katko (R-NY)
- A. Ferguson (R-GA)
- Mike Rogers (R-AL)
- Jim Banks (R-IN)
- KAY GRANGER (R-TX)
- MIKE DOYLE (D-PA)
- Richard Hudson (R-NC)
Subjects
- Business expenses
- Congressional oversight
- Energy efficiency and conservation
- Income tax credits
- Manufacturing
- Railroads
- Transportation safety and security
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.