Senate bill · S. 1532 (119th Congress)
Amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit
U.S. Senate
Sponsor: Mike Crapo (U.S. Senator for Idaho, Republican)
Official titleShow
A bill to amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
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From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data
Summary
This bill increases the annual limit on the tax credit for qualified railroad track maintenance expenses (also referred to as the short line railroad tax credit) and expands eligibility for claiming the credit. Under current law, the tax credit is limited each tax year to $3,500 multiplied by the sum of the number of miles of railroad track owned or leased by the taxpayer (miles owned or leased) and the number of railroad track miles assigned to the taxpayer by a Class II or III railroad (miles assigned). This bill increases the annual limit to $6,100 multiplied by the sum of miles owned or leased and miles assigned. The $6,100 amount used in the calculation of the tax credit limit is adjusted for inflation for tax years beginning after 2025. The bill also expands eligibility for the tax credit to include gross expenses for maintaining railroad tracks owned or leased as of January 1, 2024. Under current law, the tax credit is limited to gross expenses for maintaining railroad tracks owned or leased as of January 1, 2015.
Summary from the Congressional Research Service. How we handle summaries
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Senate Committee on Finance · U.S. Senate
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Cosponsors
47
Showing the 45 who are on Agora, A to Z. Congress.gov listed 47 as of Jul 30, 2026.
See all cosponsors on Congress.gov (opens in a new tab)- Republican27
- Democratic17
- Other1
This bill has cosponsors from more than one party.
Party is shown for the 45 cosponsors who are on Agora.
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- Amy Klobuchar
- Angela D. Alsobrooks
- Angus S. King, Jr.
- Ben Ray Luján
- Bernie Moreno
- Charles E. Schumer
- Chris Van Hollen
- Christopher A. Coons
- Cindy Hyde-Smith
- Dan Sullivan
- David McCormick
- Deb Fischer
Show the full list (45 names)Show fewer cosponsors
- James C. Justice
- James E. Risch
- Jerry Moran
- John Boozman
- John Hoeven
- John Thune
- Jon Husted
- Jon Ossoff
- Katie Boyd Britt
- Kevin Cramer
- Lisa Blunt Rochester
- Lisa Murkowski
- Margaret Wood Hassan
- Martin Heinrich
- Michael F. Bennet
- Mike Rounds
- Mitch McConnell
- Peter Welch
- Raphael G. Warnock
- Richard Blumenthal
- Roger F. Wicker
- Roger Marshall
- Ron Wyden
- Ruben Gallego
- Shelley Moore Capito
- Steve Daines
- Ted Budd
- Thom Tillis
- Tim Scott
- Tim Sheehy
- Tina Smith
- Todd Young
- Tom Cotton
Related bills
As identified by Congress.gov.
Full history
- Mar 17, 2026
Introduced
Introduced in U.S. Senate
U.S. Senate
- Apr 30, 2025
Introduced
Introduced in Senate
U.S. Senate
- Apr 30, 2025
In committee
Read twice and referred to the Committee on Finance.
U.S. Senate
- Apr 30, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
- Apr 30, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
Show full history (1 earlier event)Show less history
- Apr 30, 2025
Referred to committee
Read twice and referred to the Committee on Finance.
Read the record
- Read on Congress.gov (opens in a new tab) The official record on Congress.gov.