The IRS just recently announced inflation adjustments to over 60 different tax provisions: https://t.co/MI8X0Zt8og.
But do you know what wasn’t on that list? The 45G short line infrastructure tax credit. 👀
That’s a shame because, while the tax credit has been proven to improve freight rail safety by enabling small railroads to afford critical infrastructure upgrades, 20 years of inflation since 2005 has eroded away a significant amount of the credit’s purchasing power.
There is a solution though – it’s the 45G modernization bill that’s waiting to be passed by Congress. H.R. 516 and S.1532 would increase the current per mile credit cap, index the credit to inflation going forward and make all current short line track eligible for the credit. The current program has already driven billions of dollars in investments and had a tangible positive effect across the national freight rail network.
We are hard at work advocating for passage of this bill on Capitol Hill and you can help! Contact your elected officials. Let them know how important freight rail is to your community and how support for the industry through programs like the short line tax credit has a big impact on people like you.
Let’s keep speaking up for small railroads!
Many thanks to Senator @MikeCrapo, Senator @RonWyden, Rep. @MikeKellyPA and @RepThompson for their leadership on this important issue and for their support of our great industry!
Congrats to our 2023 16u champions,
Arlington Impact Keefe!
Always great to have an AGSA team win the Cup, congrats to Shooting Stars Wiechmann for being this year’s runner up!
Thanks to all 16u teams that competed with us this year!
RSI has partnered with REMSA & RTA to develop a report that highlights the importance of the industry to the U.S. economy in terms of jobs, tax revenue, and gross domestic product on both the state & national level. Check out the report here: https://t.co/WE1lqGC7Ow #Railway#RSI
This week, RSI made its way to Capitol Hill to talk rail supply priorities, culminating in a Rail Supply 101 congressional briefing, an overview of rail supply, our association and more. We look forward to continuing the conversation with the 118th Congress. #rail#railsuppy
Come join us and hear from our excellent speakers on the results from the mid-terms and what it could all mean for the rail supply industry in the lame duck plus the new 118th Congress. #RSIAdvocacy
Join us for our new webinar to discuss November election results, what they mean for legislative action, and what changes ahead in the 118th Congress could mean for rail suppliers. Register now to secure your spot: https://t.co/kbw9FLz77j #RSI#railwaysupply#railway
The world needs equitable, sustainable & reliable transport - #Rail suppliers are hard at work designing the systems that will enable it!
Today, at #InnoTrans2022, we are proud to have signed an MoU w/ 🇺🇸@Railway_Supply and 🇨🇦@CArailsuppliers to achieve that end.
Check out a special message from RSI President Patty Long on the RSI Expo and Technical Conference! We are excited to be holding our in-person conference October 11-13 in Fort Worth, Texas. We hope to see you there! #RSI2022 https://t.co/cnwjHKWwRy
With billions in government subsidies, Chinese state-owned-enterprises continue their steep, unfair disadvantage in key industries, including #railcar manufacturing, reports @OxfordEconomics https://t.co/RrBH6YmECC
Registration for the 2022 RSI Expo and Technical Conference is now open! Join us at #RSI2022 in Fort Worth, TX where we'll bring the industry together to connect, innovate, and advance.
Register: https://t.co/cnwjHKWwRy
Happy to be representing @Railway_Supply at this year’s @ilcad event. Thank you to FRA Deputy Administrator Jennifer Mitchell @USDOTFRA and NTSB Member the Honorable Tom Chapman @NTSB for participating and to RSI members @lbfostercorp and @Progress_Rail for supporting this event.
We're proud to join International Level Crossing Awareness Day (ILCAD) this year with experts from around the world to help improve and promote awareness of level crossing safety. #ILCAD#ILCAD2022#RailSafety@ilcad
Today we kicked off the ILCAD events at the Colorado RailRoad Museum in Denver, Colorado, USA. Tomorrow we will be gathering at the Cable Center in Denver for the ILCAD launch conference. #ilcad#UICRail#olinational#FRA_USDOT#AAR_Freightrail#safety https://t.co/HHfMGFGeqH
Today, RSI President Patty Long released a statement urging Congress to pass the newly reintroduced Freight RAILCAR Act, legislation spearheaded by @RepSchneider and @RepLaHood and with support from 29 original cosponsors.
Full statement: https://t.co/2t8jS82HUB
#InfrastructureWeek with @United4Infra is here. For 10 years, this week has highlighted the impact infrastructure has on everything in our daily lives. After passage of the Bipartisan Infrastructure Law, it's time to #LeadWithInfrastructure
Earlier this week, RSI joined more than 100 organizations in signing a letter, submitted to House and Senate leadership, expressing strong support for the supply chain subtitle in the America COMPETES Act.
Read the full letter: https://t.co/8XqC80nJYP
Save the date! The RSI Expo and Technical Conference returns this fall in Fort Worth, TX. Join us to reconnect with your peers and experience education that will keep you up to date on the latest industry developments. Registration opens soon.
Learn more: https://t.co/QGzTKVXtxR