119th Congress · Senate bill · Last action Apr 30, 2025
S. 1532In CommitteeTaxation
A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
Sponsor: Sen. Crapo, Mike (R-ID)49 cosponsorsIntroduced Apr 30, 2025
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In plain English
Sen. Mike Crapo (R-ID) increases the annual tax credit limit for railroad track maintenance expenses from $3,500 to $6,100 per mile of track owned, leased, or assigned to the taxpayer, with the $6,100 amount adjusted for inflation after 2025. The bill also expands eligibility to include expenses for maintaining railroad tracks owned or leased as of January 1, 2024, rather than limiting the credit to tracks owned or leased as of January 1, 2015.
Generated by ThePolitibase from the bill text and CRS summary. Read the official text →
Note: the official CRS summary for this bill was written on 2025-04-30, but the bill text was revised on 2025-04-30T04:00:00Z. Provisions may have been added since the summary was written — the section list above reflects the current text.
Where it is in the process
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Introduced
Apr 30
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Senate committee
Apr 30
3
Senate floor
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4
House
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5
Signed
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What happens next: Sits in committee. Needs a markup or favorable report to advance to the Senate floor.
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Sponsor
MS
Cosponsors (49)
RS
JS
KS
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RS
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CS
+42
19 Democrats, 29 Republicans (of 48 shown).
Activity timeline
Apr 30
Apr 30, 2025
Apr 30, 2025
Read twice and referred to the Committee on Finance.
Apr 30
Apr 30, 2025
Apr 30, 2025
Introduced in Senate
Read the bill text
Official text via Congress.gov. Opens in a new tab.
Full action log
All 2 recorded actions since introduction · Source: Congress.gov
Apr 30
SENATERead twice and referred to the Committee on Finance.
Apr 30
Introduced in Senate
All 49 cosponsors
19 Democrats · 29 Republicans · 1 Independent
Democrats (19)
Republicans (29)
Mullin, MarkwayneOK
Graham, LindseySC
Independents (1)
King, Angus S., Jr. [I-ME]ME
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