Congress May Pass Tax Break For Rail, Barges
Congress is considering giving railroads a tax break, but the industry doesn’t like the way it is being accomplished.
But that provision and its timing jeopardizes passage of the retiree benefits, the rail industry and some of the legislation’s leaders, fear.
For the full story, see the July 31 print edition of Transport Topics. Subscribe today.
The House Ways and Means Committee voted July 26 to repeal the 4.3-cent-per-gallon tax on diesel fuel burned by railroads and waterway barge companies. Proceeds of the tax go to reduction of the federal deficit.
The repeal was included in legislation changing the benefit structure of the Railroad Retirement System. It was added added at the request of Rep. Kenny C. Hulshof (R-Mo.), whose district abuts both the Missouri and Mississippi rivers.
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