Bill
Bill > HR516
US HR516
US HR516To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
summary
Introduced
01/16/2025
01/16/2025
In Committee
01/16/2025
01/16/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
AI Summary
This bill modifies the railroad track maintenance credit in the Internal Revenue Code by increasing the base credit amount from $3,500 to $6,100 per mile of track for railroad infrastructure maintenance expenditures. The bill also introduces an annual inflation adjustment mechanism for the credit amount, which will be calculated using the cost-of-living adjustment starting in 2025. Additionally, the bill extends the period for qualifying track maintenance expenditures from January 1, 2015, to January 1, 2024. Any increases to the credit amount will be rounded to the nearest $100. These changes will apply to expenditures paid or incurred in taxable years beginning after December 31, 2024. The railroad track maintenance credit is a tax incentive designed to encourage railroad companies to invest in maintaining and improving their track infrastructure, which can enhance safety and transportation efficiency.
Committee Categories
Budget and Finance
Sponsors (183)
Mike Kelly (R)*,
Alma Adams (D),
Robert Aderholt (R),
Rick Allen (R),
Brian Babin (R),
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Becca Balint (D),
Andy Barr (R),
Tom Barrett (R),
Michael Baumgartner (R),
Aaron Bean (R),
Joyce Beatty (D),
Nicholas Begich (R),
Wesley Bell (D),
Jack Bergman (R),
Sheri Biggs (R),
Sanford Bishop (D),
Mike Bost (R),
Robert Bresnahan (R),
Julia Brownley (D),
Nikki Budzinski (D),
Tim Burchett (R),
Salud Carbajal (D),
Mike Carey (R),
André Carson (D),
Buddy Carter (R),
John Carter (R),
Troy Carter (D),
Sheila Cherfilus-McCormick (D),
Emanuel Cleaver (D),
Ben Cline (R),
Steve Cohen (D),
Tom Cole (R),
James Comer (R),
Jim Costa (D),
Angie Craig (D),
Rick Crawford (R),
Sharice Davids (D),
Danny Davis (D),
Don Davis (D),
Suzan DelBene (D),
Mario Diaz-Balart (R),
Neal Dunn (R),
Jake Ellzey (R),
Ron Estes (R),
Gabe Evans (R),
Mike Ezell (R),
Pat Fallon (R),
Julie Fedorchak (R),
Shomari Figures (D),
Brad Finstad (R),
Michelle Fischbach (R),
Brian Fitzpatrick (R),
Lois Frankel (D),
Russell Fry (R),
Clay Fuller (R),
John Garamendi (D),
Laura Gillen (D),
Craig Goldman (R),
Vicente Gonzalez (D),
Paul Gosar (R),
Josh Gottheimer (D),
Sam Graves (R),
Adam Gray (D),
Morgan Griffith (R),
Michael Guest (R),
Brett Guthrie (R),
Harriet Hageman (R),
Josh Harder (D),
Mike Haridopolos (R),
Andy Harris (R),
Mark Harris (R),
Kevin Hern (R),
French Hill (R),
Richard Hudson (R),
Bill Huizenga (R),
Wesley Hunt (R),
Ronny Jackson (R),
Dusty Johnson (R),
John Joyce (R),
Tom Kean (R),
Robin Kelly (D),
Trent Kelly (R),
Kevin Kiley (I),
Darin LaHood (R),
Doug LaMalfa (R),
Nick Langworthy (R),
Rick Larsen (D),
Mike Lawler (R),
Mike Levin (D),
Barry Loudermilk (R),
Frank Lucas (R),
Ryan Mackenzie (R),
Celeste Maloy (R),
Tracey Mann (R),
John Mannion (D),
Sarah McBride (D),
April McClain-Delaney (D),
Betty McCollum (D),
Richard McCormick (R),
Kristen McDonald Rivet (D),
Addison McDowell (R),
Rob Menendez (D),
Mark Messmer (R),
Dan Meuser (R),
Carol Miller (R),
Mary Miller (R),
Max Miller (R),
Mariannette Miller-Meeks (R),
Cory Mills (R),
John Moolenaar (R),
Blake Moore (R),
Tim Moore (R),
Nathaniel Moran (R),
Joe Morelle (D),
Kelly Morrison (D),
Seth Moulton (D),
Frank Mrvan (D),
Kevin Mullin (D),
Troy Nehls (R),
Donald Norcross (D),
Ralph Norman (R),
Eleanor Holmes Norton (D),
Ilhan Omar (D),
Burgess Owens (R),
Chris Pappas (D),
Jimmy Patronis (R),
August Pfluger (R),
Stacey Plaskett (D),
Mark Pocan (D),
Nellie Pou (D),
Josh Riley (D),
Hal Rogers (R),
Mike Rogers (R),
John Rose (R),
David Rouzer (R),
Michael Rulli (R),
Linda Sánchez (D),
Jan Schakowsky (D),
Derek Schmidt (R),
Brad Schneider (D),
Hillary Scholten (D),
Kim Schrier (D),
Austin Scott (R),
Bobby Scott (D),
Terri Sewell (D),
Jefferson Shreve (R),
Lateefah Simon (D),
Mike Simpson (R),
Adrian Smith (R),
Chris Smith (R),
Eric Sorensen (D),
Darren Soto (D),
Pete Stauber (R),
Tom Suozzi (D),
David Taylor (R),
Claudia Tenney (R),
Shri Thanedar (D),
Bennie Thompson (D),
G.T. Thompson (R),
Mike Thompson (D),
William Timmons (R),
Dina Titus (D),
Paul Tonko (D),
David Valadao (R),
Jeff Van Drew (R),
Derrick Van Orden (R),
Gabe Vasquez (D),
Marc Veasey (D),
Eugene Vindman (D),
Tim Walberg (R),
Bonnie Watson Coleman (D),
Randy Weber (R),
Daniel Webster (R),
Bruce Westerman (R),
Roger Williams (R),
Frederica Wilson (D),
Joe Wilson (R),
Rob Wittman (R),
Steve Womack (R),
Rudy Yakym (R),
Last Action
Referred to the House Committee on Ways and Means. (on 01/16/2025)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Transportation
- ‐ Railroads and Railroad Safety
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/516/all-info | 01/17/2025 |
| BillText | https://www.congress.gov/119/bills/hr516/BILLS-119hr516ih.pdf | 02/13/2025 |
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