AAR: Tax reform will help railroad industry

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WASHINGTON — The head of the Association of American Railroads predicts the rail industry will benefit from the Republican tax reform legislation that passed Congress on Wednesday.

“Tax reform will make our customers and the freight railroads more globally competitive, and we applaud Congress for passing this legislation,” says AAR President and CEO Edward R. Hamberger. “Key provisions, namely the reduction of the corporate tax rate and full and immediate expensing for five years, will help support private investment across the 140,000-mile rail network and the entire economy.”

Hamberger says he hopes the federal government will turn its attention in 2018 to stabilizing the North American Free Trade Agreement, making the short line tax credit permanent and in comprehensively addressing U.S. infrastructure and transportation systems.

Earlier in the week, the Brotherhood of Locomotive Engineers and Trainmen came out against the bill over concerns it will negatively impact Railroad Retirement Unemployment and Sickness Benefits.

NEWSWIRETrains News Wire

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