[Congressional Record Volume 159, Number 29 (Thursday, February 28, 2013)]
[Senate]
[Page S1019]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. ROCKEFELLER (for himself, Mr. Crapo, Mr. Wyden, and Mr. 
        Moran):
  S. 411. A bill to amend the Internal Revenue Code of 1986 to extend 
and modify the railroad track maintenance credit; to the Committee on 
Finance.
  Mr. ROCKEFELLER. Mr. President, today I am joining my colleagues 
Senators, Crapo, Wyden, and Moran in introducing the Short Line 
Railroad Rehabilitation and Investment Act of 2013, legislation to 
extend for 3 years the Section 45G short line freight railroad tax 
credit.
  In the 112th Congress, I introduced a 6-year extension of this 
credit. Despite the often contentious atmosphere of the 112th Congress, 
during which my colleagues found little they could agree on, the short 
line rail credit was a bipartisan success story, with my legislation 
attracting more than 50 bipartisan cosponsors.
  ``Short line'' railroads are small freight rail companies responsible 
for bringing goods to communities that are not directly served by 
large, trans-continental railroads. Supporting small railroads allows 
the communities surrounding them to attract and maintain businesses and 
create jobs. The evidence of the success of this credit can be found in 
communities across America.
  This credit has real impact for the people of my state. West Virginia 
is the second biggest producer of railroad ties in the country. Since 
the credit was enacted, it is estimated 750,000 railroad ties have been 
purchased above what would have otherwise been purchased with no 
incentive. Those railroad ties translate directly into jobs. This 
credit does not create just West Virginia jobs though. The ties, 
spikes, and rail this credit helps fund are almost entirely American 
made.
  Over 12,000 rail customers across America depend on short lines. This 
credit creates a strong incentive for short lines to invest private 
sector dollars on private-sector freight railroad track rehabilitation 
and improvements. Unfortunately, it is now scheduled to expire at the 
end of 2013.
  We were unable to enact a full 6-year extension of this important tax 
credit last Congress, but I was pleased that this credit was extended 
through the end of 2013 as part of the December 31st fiscal cliff deal.
  This Congress I want to do more. This credit, and the short line 
railroads that serve all of our constituents, deserve a meaningful 
extension. If this credit is allowed to expire at the end of the year, 
private-sector investments in infrastructure in our communities will 
fall by hundreds of millions of dollars.
  This bill would extend the 45G credit through 2016, providing the 
important long-term planning certainty necessary to maximize private-
sector transportation infrastructure investment. Over 50 members of 
this body sponsored legislation in the last Congress extending this 
credit and I hope there will be similar support again this year. I ask 
my colleagues to join me in supporting this important legislation.
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