Railroad Day 2019

Railroad Day 2019 https://m6g3q6n5.stackpathcdn.com/perch/resources/news/washington-dc-16244191280-w450h300.jpg

A group of representatives from L.B. Foster, joined more than 400 other railroad industry participants, including representatives from Class 1 railroads, short line railroads, contractors and other suppliers, at the annual Railroad Day on the Hill in Washington, DC through ASLRRA.

Through scheduled and ad hoc meetings with elected members of Congress and their staff on Capitol Hill, the group advocated in support of three key issues – extending and making permanent the short line railroad Section 45G tax credit, opposing longer and heavier trucks and preserving balanced economic regulation of the railroad industry.

“Along with many others from the rail industry, we welcome the opportunity to directly discuss and address issues that affect the overall safety and health of the railroad industry and impact our key customers,” said Greg Lippard, Vice President of Rail Sales and Products and Services. “Railroad Day is an impactful event that we look forward to participating in every year."

The Section 45G tax credit has importance to the short line railroads and has benefited from broad bipartisan support in Congress. With about 600 short line railroads throughout North America, they are a key customer segment for L.B. Foster’s many rail products. The tax credit allows them to maintain and upgrade their track infrastructure, preserving rail safety and service for their customers and the communities in which they operate across the US. 

Since the enactment of the Section 45G tax credit in 2005, short lines have invested over $4 billion in new track and bridge upgrades. Efforts have been focused on either extending the tax credit (as well as making it retroactive for 2018) or making it permanent after its expiration at the end of 2017. As a measure of the impact of the advocacy effort by the group that day, several new cosponsors on both sides of the aisle in the House and Senate signed onto proposed legislation.

lbfosterus en 19 June 2019 news/details/2019-06-19-railroad-day-on-the-hill-gives-opportunity-to-advocate-for-short-line-tax-credit