One week after obtaining the 60th supporter of the BRACE Act in the Senate, the American Short Line and Regional Railroad Association (ASLRRA) recently revealed a high of 272 supporters of the companion bill in the U.S. House of Representatives, H.R. 510, calling for permanence of the Short Line Tax Credit (45G).
The American Short Line and Regional Railroad Association (ASLRRA) recently reached an important mark on the road to making the Short Line Tax Credit (45G) permanent—60 members of the Senate are now on the record supporting the BRACE Act, S.203.
The time is now, say the 1,000 railroad and supplier members of the American Short Line and Regional Railroad Association (ASLRRA), for Congress to act on the Short Line 45G tax credit, expired since December 2017.
The bills to make the short line railroad 45G tax credit permanent, HR 510 and S 203, have recently gained momentum.
Restoration of the 50% investment tax credit for short line railroads—commonly known as 45-G for its designated section in the Internal Revenue Code—again appears a reality in Congress after that “wall thing” debate interfered with the tax credit’s passage just prior to final adjournment of the 115th Congress.
In the people’s company town of Washington, D.C., the most popular refrain during lame duck sessions of Congress—the fewer than 60 days between congressional elections and adjournment—is the catchphrase from Mariah Carey’s iconic tune, “All I Want for Christmas Is You.”