{"id":37098,"date":"2014-04-08T09:18:25","date_gmt":"2014-04-08T13:18:25","guid":{"rendered":"http:\/\/smart-union.dev\/news\/senate-committee-supports-short-line-tax-credit\/"},"modified":"2014-04-08T09:18:25","modified_gmt":"2014-04-08T13:18:25","slug":"senate-committee-supports-short-line-tax-credit","status":"publish","type":"post","link":"https:\/\/www.smart-union.org\/senate-committee-supports-short-line-tax-credit\/","title":{"rendered":"Senate committee supports short-line tax credit","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
U.S. Sen. Charles Schumer (D-N.Y.) yesterday announced that an effort to extend the short-line tax credit for two years cleared a first big hurdle by passing out of the Senate Committee on Finance as a part of the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which would reinstate a package of expired tax provisions.<\/p>\n
Schumer now is urging the full Senate to quickly take up and pass the entire EXPIRE Act package. If extended until 2016, the tax credit \u2013 which expired on Dec. 31 \u2013 would fund capital improvement projects along New York\u2019s short-line railways, such as pending infrastructure upgrades proposed by the New York Susquehanna and Western Railway, Saratoga and North Creek Railroad, and Finger Lakes Railway, the senator said in a press release. <\/p>\n