The Building Rail Access for Customers and the Economy (BRACE) Act, introduced in March of this year, has achieved 226 co-sponsors in the House of Representatives (H.R. 721) and 51 co-sponsors in the Senate (S. 407), the American Short Line and Regional Railroad Association (ASLRRA) announced.
The BRACE Act is important to short line railroads because it includes language to make permanent the 45G tax credit. Under the terms of the credit a short line railroad must invest one dollar for every 50 cents in credit up to a credit cap equivalent to $3,500 per mile of track. It is a critical in assisting the nation's 603 short line railroads in upgrading track and bridges, and has been a major target of the ASLRRA's lobby efforts.