House bill would update tax credit for short lines

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House bill would update tax credit for short lines

A Kankakee, Beaverville & Southern train works in Kankakee, Ill., in April 2022. New federal legislation would update a key tax credit for short lines. David Lassen WASHINGTON — In a notably bipartisan move, the top Republican and Democrat on the House Ways & Means Subcommittee on Tax have introduced a bill to update a tax credit that has been crucial to short line infrastructure investment. U.S. Reps. Mike Kelly (R-Pa.), chairman of the subcomm…