A bipartisan group of U.S. representatives is supporting a bill that would encourage companies to replace or modernize older freight railcars via a tax credit.
North American rail equipment manufacturers have customers and offices in the region, and they’re assessing what steps to take next as the situation unfolds.
Railcar orders rose more than 50% in the fourth quarter, according to the Railway Supply Institute.
Railway Supply Institute will install a new president after Thanksgiving, while two rail advocacy groups release survey results showing public support for rail.
A market recovery is underway for railcar lessors and equipment manufacturers, but the market also has a ways to go before it bounces back completely, according to industry observations.
Railway supply workers support critical infrastructure, the trade group says.
Freight rail groups and others congratulate the former mayor of South Bend, Indiana, on his nomination to lead DOT; also, U.S. weekly rail volumes rise nearly 5% year-over-year
The new standard developed by the Railway Supply Institute builds upon existing federal and trade standards.
The Freight RAILCAR Act would provide a tax credit incentive for railcar owners to upgrade or replace railcars to more fuel-efficient models.