Search Results: keywords:"qualified railroad track maintenance expenditures"

  • H. R. 516 — To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
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    Status:Introduced in House
    Words:387

    H.R. 516 aims to change the rules in the Internal Revenue Code of 1986 regarding the tax credit for maintaining railroad tracks. Specifically, it proposes to increase the credit amount from $3,500 to $6,100. Additionally, starting after 2025, this amount will be adjusted based on inflation....

    Simple Explanation

    H.R. 516 is a bill that wants to give more money back, called a "credit," to people or businesses that fix train tracks, raising it from $3,500 to $6,100, and adjusting it for inflation starting in 2025 so the credit amount stays valuable as things get more expensive over time.

  • S. 5008 — To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
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    Status:Introduced in Senate
    Words:385

    S. 5008 proposes changes to the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. The bill aims to increase the credit amount from $3,500 to $6,100 and introduce an adjustment for inflation starting in 2025. It also updates the definition of...

    Simple Explanation

    S. 5008 is a plan to let companies fix train tracks and get more money back from taxes—from $3,500 to $6,100—starting in 2025, with extra adjustments so it can keep up with the cost of living.