Transportation Industry
Senate Bill Would Make Tax Credit Available To Fleets That Invest in Rail Infrastructure
Transport Topics, August, 2006 by Fischer, Andrea
Trucking fleets are among the companies eligible to receive a 25% tax credit for investing in new rail infrastructure under legislation introduced in the U.S. Senate.
The measure would expand freight rail capacity and alleviate gridlock at some of the nation's busiest ports by giving the tax credit to companies that spend money to build intermodal-transfer facilities, rail yards, new rail track and related construction, said Sen. Trent Lott (R-Miss.), chairman of the Surface Transportation subcommittee of the Senate Commerce Committee.
Rail and intermodal representatives and users hailed the bill.
Burt Wallace, vice president of transportation for UPS Inc., a major user of North American truck-rail shipping, said although the company nas not yet taken a position on...
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