April 30, 2025
Mr. Crapo (for himself and Mr. Wyden) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Modification of railroad track maintenance credit
(a) Increase in credit amount
(1) In general
Section 45G(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking $3,500
and inserting $6,100
.
(2) Inflation adjustment
Section 45G of such Code is amended by adding at the end the following new subsection:
(f) Inflation adjustment
(1) In general
In the case of a taxable year beginning after 2025, the $6,100 amount in subsection (b)(1)(A) shall be increased by an amount equal to—
(A)
such dollar amount, multiplied by
(B)
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting
calendar year 2024forcalendar year 2016in subparagraph (A)(ii) thereof.(2) Rounding
Any increase determined under paragraph (1) which is not a multiple of $100 shall be rounded to the nearest multiple of $100.
(b) Qualified railroad track maintenance expenditures
Section 45G(d) of the Internal Revenue Code of 1986 is amended by striking January 1, 2015
and inserting January 1, 2024
.
(c) Effective date
The amendments made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2024.