A federal tax credit that’s helped attract billions in private investment in short line railroads could be getting an upgrade.
Legislation introduced in the Senate seeks to modernize the Short Line Railroad Maintenance Tax Credit, known as 45G, that has been responsible for driving more than $8 billion in private spending for short line rail infrastructure since it was introduced in 2005.
The bill, co-sponsored by Republican Mike Crapo of Idaho, chairman of the Senate Finance Committee, and Ron...