Washington, DC – March 23, 2015 – (RealEstateRama) — U.S. Representative Randy Hultgren (IL-14) has cosponsored the Short Line Railroad Rehabilitation and Investment Act of 2015 (H.R. 721), which extends a tax credit of 50 cents for every dollar spent on track improvements, leveraging private sector investment into Illinois and national infrastructure. Three short line or regional railroads—Illinois Railway; Iowa, Chicago and Eastern Railroad; and Wisconsin and Southern Railroad—carry goods and raw materials to serve customers within the 14th Congressional District.
“Illinois is a hub for freight transportation, and improving our rail infrastructure is important for safety and upgrading the capacity of local freight railroads. But the current tax credit expired at the end of last year, hampering efforts to maintain and expand existing rail lines,” said Rep. Hultgren. “Short line railroads connect more than 10,000 customers across America to the national freight railroad network, and are critical to preserving the first and last mile of track connecting factories, grain elevators, power plants and more. Extending the short line tax credit encourages a private sector solution to a public problem by maximizing private infrastructure investment into our local economies.”
