Last progress September 10, 2025 (2 months ago)
Introduced on September 10, 2025 by James E. Banks
Read twice and referred to the Committee on Finance.
This bill would change the federal tax code to offer a tax credit to help replace or upgrade old, inefficient freight railcars. The goal is to encourage rail companies to modernize their fleets, which could improve safety and efficiency in moving goods. The text provided does not list the credit amount, who exactly can claim it, or when it would start, only that it creates a “freight railcar modernization credit” in the tax code .
Here are the key points based on the available text: