By Frank N. Wilner, Contributing Editor, Railway Age Magazine; February 9, 2018
The regional and short line railroad investment tax credit (known as 45G for its provision in the Internal Revenue Code) was signed into law by President Trump following its unexpected insertion into the massive two-year Bipartisan Budget Act of 2018 passed in the predawn hours of Friday, Feb. 9, by the House and Senate.
The investment tax credit extension provision was inserted in the budget bill late Wednesday, Feb. 7. This was a testament to its congressional popularity, as neither the language nor rationale for the extension had been presented to a House or Senate oversight committee for public hearing and consideration—generally the process before legislation reaches the respective congressional chamber for a vote.
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