http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/show/110_HR_2116.html 9/28/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance. 27436@http://www.washingtonwatch.com Fri, 28 Sep 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_2116.html?rev=7200 <p>H.R. 2116 would amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Freight Rail Infrastructure Capacity Expansion Act of 2007 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 5/2/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 7200@http://www.washingtonwatch.com Thu, 02 Aug 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/history/110_HR_2116.html?rev=7201 <p>H.R. 2116 would amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity.</p> <h2 id="toc4"> Detailed Summary </h2> <p>Freight Rail Infrastructure Capacity Expansion Act of 2007 - Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 5/2/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 7201@http://www.washingtonwatch.com Thu, 02 Aug 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_2116.html#15803 Pass H.R 2095 before H.R. 2116 even sees daylight again. H.R. 2116 is a cash grab by the railroads. They want taxpayers to pay for 25% of the improvements, but give the taxpayers 0% of the profits. Then, when Diesel prices skyrocket, railroads will sit back and rake in the money because it will be much too expensive to truck goods. If it was really about rail infrastructure, why wouldn't we just give credits to shippers to use rail? The money would still be there for infrastructure improvement, except the railroads would have to work for it instead of having it handed to them on a silver platter.... 15803@http://www.washingtonwatch.com Mon, 21 May 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_2116.html#15612 We pay for it one way or another! My initial reaction was to agree with most of the previous post and say “No, let them pay for it themselves”. However, we must understand that our rail infrastructure badly needs to be revamped and expanded. This tax incentive may just provide the needed financial aid for this private/public partnership to do so. If the rail industry is not equipped to handle the increased in demand for our competitive economy, then the trucking industry will bear the brunt of it while using our highways and roads. We know that the highway industry is not getting any subsidies correct? Wrong. So, this bill is really a matter of allowing a more multi-modal form of transportation of goods.... 15612@http://www.washingtonwatch.com Mon, 14 May 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_2116.html 5/2/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means. 19707@http://www.washingtonwatch.com Wed, 02 May 2007 00:00:00 EDT http://www.washingtonwatch.com/bills/show/110_HR_2116.html 5/2/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means. 29665@http://www.washingtonwatch.com Wed, 02 May 2007 00:00:00 EDT