HR 2289
117th Congress
House
Taxation
Business expenses
Congressional oversight
Energy efficiency and conservation
Income tax credits
Manufacturing
Railroads
Transportation safety and security
Freight RAILCAR Act of 2021
Introduced: March 29, 2021
Introduced by:
Schneider, Bradley Scott
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 29, 2021
Referred to the House Committee on Ways and Means.
Mar 29, 2021
Introduced in House
Plain-English summary
Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2021 or the Freight RAILCAR Act of 2021
This bill provides a new tax credit for 50% of freight railcar fleet modernization expenses. The bill defines freight railcar fleet modernization expenses to include amounts for railcar replacement and modernization, railcar scrap amounts, and for railcar facility and technology modernization.
The Department of the Treasury must report to Congress on the credit to provide information on the number of times the credit was claimed and the number of railcars scrapped or built as a result of the credit.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1