Senate all aboard with rail tax credit

ALBANY A proposed federal measure that could make it easier for New York based railroad companies to maintain their operations cleared the floor of the United States Senate Finance Committee on Thursday, bringing it one step closer to passage in the full Senate.

Since January, federal representatives have pushed Congress to extend the short-line tax credit that expired at the beginning of the year. Advocates say the tax credit would work as an incentive for railroad companies to maintain rail line infrastructure and make capital improvements.

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