RSI Again Urges Congress to Pass Freight RAILCAR Act

Written by Marybeth Luczak, Executive Editor
The 2023 version of the Freight RAILCAR Act “offers a time-limited 10% tax credit for new railcars or the modification of existing railcars to offset the costs of either replacing two existing railcars with a new railcar that would improve fuel efficiency or capacity by at least 8%, modernizing an existing railcar to improve fuel efficiency or capacity by at least 8%, or upgrading a car to DOT-117 tank car specifications,” according to RSI.

The 2023 version of the Freight RAILCAR Act “offers a time-limited 10% tax credit for new railcars or the modification of existing railcars to offset the costs of either replacing two existing railcars with a new railcar that would improve fuel efficiency or capacity by at least 8%, modernizing an existing railcar to improve fuel efficiency or capacity by at least 8%, or upgrading a car to DOT-117 tank car specifications,” according to RSI.

U.S. Rep. Darin LaHood (R-Ill.) has reintroduced the Freight RAILCAR Act. This bipartisan legislation, supported by the Railway Supply Institute (RSI), would provide a “time-limited tax credit” for the purchase of new railcars or modification of existing cars to help offset the costs associated with taking older equipment out of service. Railway Age Financial Editor David Nahass weighs in.

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