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Bill Summary

Page_white_text S1125: A bill to amend the Internal Revenue Code of 1986 to provide incentives to encourage investment in the expansion of freight rail infrastructure capacity and to enhance modal tax equity    [0 comments]
Amends the Internal Revenue Code to allow: (1) a tax credit for 25% of the cost of new qualified freight rail infrastructure property and new qualified locomotive property; and (2) a taxpayer election to expense the cost of qualified freight rail infrastructure property (i.e., deduct all costs in the current taxable year). Terminates such credit and expensing election after 2012.
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Additional Information
WorldS1125 at GovTrack BookS1125 at the Library of Congress
Sponsor

Photo Republican
Mississippi
http://lott.senate.gov/

Co-Sponsors
Sen. Richard Burr [R, NC]
Sen. Robert Casey [D, PA]
Sen. Thad Cochran [R, MS]
Sen. Norm Coleman [R, MN]
Sen. Kent Conrad [D, ND]
Sen. Michael Crapo [R, ID]
Sen. Lindsey Graham [R, SC]
Sen. Charles Hagel [R, NE]
Sen. John Isakson [R, GA]
Sen. Mary Landrieu [D, LA]
Sen. Blanche Lincoln [D, AR]
Sen. Bill Nelson [D, FL]
Sen. Ben Nelson [D, NE]
Sen. Ken Salazar [D, CO]
Sen. Gordon Smith [R, OR]

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