Politiparty
Politiparty

118th Congress Taxation

H.R. 838: Freight RAILCAR Act of 2023

Introduced

  1. Introduced (completed)Feb 6, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Feb 6, 2023

This bill provides a new tax credit through 2025 for 10% of freight railcar fleet modernization expenses (i.e., railcar replacement and modernization expenses for meeting fuel efficiency and performance standards). The bill provides that no more than 2,000 freight railcars per taxpayer may be taken into account for purposes of determining the credit in a taxable year.

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

68

Bipartisan support.

Who scored on this bill

18 points earned
  1. 1Darin LaHood R-IL SponsorDrew cross-party cosponsors, reached a cosponsor milestone, introduced4 events+18
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Darin LaHood

History

  1. Feb 6, 2023Introduced in the House by Darin LaHood.
Show the full action history (2 actions)
  1. Feb 6, 2023Introduced in House
  2. Feb 6, 2023Referred to the House Committee on Ways and Means.