Boswell Introduces Legislation to Grow Freight Rail Capacity

Press Release

Today, Congressman Leonard Boswell introduced the Freight Rail Infrastructure Capacity Expansion Act to make it easier for manufacturers, small businesses, and others to move their product via freight rail. With gas prices still high, this legislation would provide more options for interstate commerce by expanding freight rail capacity through investment incentives for freight rail infrastructure and locomotives.

"With oil hovering at $100 a barrel, rising gas prices, and increasing congestion on our highways, it is clear that we need a long term transportation infrastructure solution that meets the current demand for the movement of people and goods, as well as allowing for the future growth that is sure to come," said Boswell, a senior Member of the House Transportation and Infrastructure Committee. "American companies need a more affordable option to move their products and rail is a solid solution. Growing our freight rail system creates jobs and helps America remain competitive with the rest of the world."

The Freight Rail Infrastructure Capacity Expansion Act provides a tax credit of 25 percent for qualified rail infrastructure and locomotive property in order to expand our nation's freight rail capacity, as well as an election to expense the cost of qualified freight rail infrastructure, through 2016.

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