WASHINGTON (KTVZ) — Senate Finance Committee Chair Ron Wyden, D-Ore., introduced bipartisan legislation on Tuesday to modernize and expand the tax credit used to maintain short line railroads in Oregon, Idaho and nationwide, such as the City of Prineville Railway .
Senate Finance Committee Ranking Member Mike Crapo, R-Idaho, cosponsored the legislation.
“Short line and regional railroads are an essential part of our infrastructure and a lifeline that connects small businesses with consumers in markets all over the country,” Wyden said. “Senator Crapo and I worked for years to make the tax credit for these railroads permanent, and the next step is to improve it to meet the needs of our businesses and communities today. Our bipartisan legislation will deliver much-needed relief for short line and regional railroads to make vital upgrades that connect our rural communities, small towns, and urban centers to the marketplace.”
In 2020, working with Crapo, Wyden secured a permanent extension of the tax credit for short line track maintenance, which had been a temporary credit for years, hampering investment.