To spur investment in safer freight railcar manufacturing in the United States and ramp up jobs, U.S. Rep. Darin LaHood (R-IL) on March 29 introduced a bipartisan bill that would provide a tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars.
Rep. LaHood signed on as the lead original cosponsor of the Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2021, H.R. 2289, also known as the Freight RAILCAR Act of 2021, which is sponsored by U.S. Rep. Brad Schneider (D-IL) and 10 other original cosponsors, including U.S. Reps. Rodney Davis (R-IL) and Jackie Walorski (R-IN).
“The Freight RAILCAR Act will spur job growth in the freight rail manufacturing sector, creating opportunities to invest in critical freight rail infrastructure, and strengthen our transportation system as we work to recover from COVID-19,” Rep. LaHood said.
If enacted, H.R. 2289 aims to help retain American jobs through the ongoing COVID-19 pandemic and ensure the sustainability of the North American steel and rail components supply chain, according to information provided by Rep. LaHood’s office.
The bill would authorize tax credits to encourage the adoption of new, more efficient, environmentally friendly freight railcars, just as the demand for new railcars has plummeted during the pandemic and costs thousands of workers their jobs in the freight railcar manufacturing industry, the information states.
Last August, Rep. LaHood joined Rep. Schneider to introduce the Freight RAILCAR Act of 2020, H.R. 8082, which stalled in the U.S. House Ways and Means Committee.
“I am proud to join my colleague from Illinois, Rep. Schneider, to reintroduce our bill that will support thousands of jobs in the United States,” said Rep. LaHood on March 29.