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Bill > S1532

US S1532

US S1532
A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.

summary

Introduced
04/30/2025
In Committee
04/30/2025
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 credit amount from $3,500 to $6,100 per mile of railroad track owned or leased by the taxpayer. The bill also introduces an inflation adjustment mechanism for the credit amount, which will automatically increase the $6,100 figure annually based on the cost of living, starting in 2025. Any increase that is not a multiple of $100 will be rounded to the nearest $100. Additionally, the bill extends the period for qualifying railroad track maintenance expenditures from January 1, 2015, to January 1, 2024, which means railroad companies can claim this tax credit for track maintenance expenses incurred after that date. These changes are designed to provide more financial support to railroad companies for maintaining and improving their track infrastructure, with the credit amount being periodically adjusted to keep pace with economic changes. The modifications will apply to expenditures paid or incurred in tax years beginning after December 31, 2024.

Committee Categories

Budget and Finance

Sponsors (49)

Mike Crapo (R)*,  Angela Alsobrooks (D),  Michael Bennet (D),  Richard Blumenthal (D),  Lisa Blunt Rochester (D),  John Boozman (R),  Katie Boyd Britt (R),  Ted Budd (R),  Shelley Moore Capito (R),  Chris Coons (D),  Tom Cotton (R),  Kevin Cramer (R),  Steve Daines (R),  Deb Fischer (R),  Ruben Gallego (D),  Lindsey Graham (R),  Maggie Hassan (D),  Martin Heinrich (D),  John Hoeven (R),  Jon Husted (R),  Cindy Hyde-Smith (R),  James Justice (R),  Angus King (I),  Amy Klobuchar (D),  Ben Ray Luján (D),  Roger Marshall (R),  Mitch McConnell (R),  David McCormick (R),  Jerry Moran (R),  Bernie Moreno (R),  Markwayne Mullin (R),  Lisa Murkowski (R),  Jon Ossoff (D),  Jim Risch (R),  Mike Rounds (R),  Chuck Schumer (D),  Tim Scott (R),  Tim Sheehy (R),  Tina Smith (D),  Dan Sullivan (R),  John Thune (R),  Thom Tillis (R),  Chris Van Hollen (D),  Mark Warner (D),  Raphael Warnock (D),  Peter Welch (D),  Roger Wicker (R),  Ron Wyden (D),  Todd Young (R), 

Last Action

Read twice and referred to the Committee on Finance. (on 04/30/2025)

Bill Topics

Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform
Transportation
  • ‐ Railroads and Railroad Safety
(2 Companion Bills)

bill text

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Document Type Source Location Created
State Bill Page https://www.congress.gov/bill/119th-congress/senate-bill/1532/all-info 05/01/2025
BillText https://www.congress.gov/119/bills/s1532/BILLS-119s1532is.pdf 05/10/2025
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