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Bill > HR1200

US HR1200

Freight RAILCAR Act of 2025 Freight Rail Assets Investment to Launch Commercial Activity Revitalization Act of 2025

summary

Introduced
02/11/2025
In Committee
02/11/2025
Crossed Over
Passed
Dead

Introduced Session

119th Congress

Bill Summary

A BILL To amend the Internal Revenue Code of 1986 to provide a tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars, and for other purposes.

AI Summary

This bill introduces a tax credit to encourage the modernization and replacement of freight railcars in the United States. Specifically, the bill provides a 10% tax credit for freight rail companies that replace or upgrade their railcar fleets, with a limit of 1,000 qualified railcars per taxpayer per year. To qualify, new railcars must be built after the bill's enactment and replace two existing railcars that are scrapped, and must demonstrate significant improvements in capacity, fuel efficiency, or performance (at least an 8% increase). The bill defines "qualified freight railcars" as those built in facilities that meet certain regulatory standards, and which have not previously received a credit. The tax credit is available for railcars placed in service or modernized between the bill's enactment and three years thereafter. Additionally, the bill requires the Treasury Secretary to submit a report to congressional committees within three years, detailing the credit's usage, including the number of railcars scrapped, new railcars contracted, and new railcars built as a result of the tax incentive. The goal is to modernize the freight rail infrastructure, improve railcar efficiency, and support domestic rail manufacturing.

Committee Categories

Budget and Finance

Sponsors (61)

Darin LaHood (R)*,  Brian Babin (R),  Don Bacon (R),  Aaron Bean (R),  Stephanie Bice (R),  Sanford Bishop (D),  Suzanne Bonamici (D),  Mike Bost (R),  Brendan Boyle (D),  Nikki Budzinski (D),  Mike Carey (R),  Troy Carter (D),  Juan Ciscomani (R),  Angie Craig (D),  Rick Crawford (R),  Henry Cuellar (D),  Sharice Davids (D),  Mario Diaz-Balart (R),  Jake Ellzey (R),  Randy Feenstra (R),  Vince Fong (R),  Craig Goldman (R),  Tony Gonzales (R),  Lance Gooden (R),  Josh Gottheimer (D),  Sam Graves (R),  Kevin Hern (R),  Ashley Hinson (R),  Val Hoyle (D),  Richard Hudson (R),  Wesley Hunt (R),  Mike Kelly (R),  Doug LaMalfa (R),  Rick Larsen (D),  Morgan Luttrell (R),  Tracey Mann (R),  Michael McCaul (R),  Carol Miller (R),  Mariannette Miller-Meeks (R),  Nathaniel Moran (R),  Frank Mrvan (D),  Greg Murphy (R),  Troy Nehls (R),  Dan Newhouse (R),  Jimmy Panetta (D),  August Pfluger (R),  Mike Rogers (R),  David Rouzer (R),  Andrea Salinas (D),  Linda Sánchez (D),  Brad Schneider (D),  Terri Sewell (D),  Greg Steube (R),  Dina Titus (D),  David Valadao (R),  Beth Van Duyne (R),  Derrick Van Orden (R),  Randy Weber (R),  Bruce Westerman (R),  Tony Wied (R),  Roger Williams (R), 

Last Action

Referred to the House Committee on Ways and Means. (on 02/11/2025)

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