S.Amdt. 4542

SA 4542. Mr. WYDEN submitted an amendment intended to be proposed by
him to the bill S. 1383, to establish the Veterans Advisory Committee
on Equal Access, and for other purposes; which was ordered to lie on
the table; as follows:

At the appropriate place, insert the following:

SEC. ___. MODIFICATION OF RAILROAD TRACK MAINTENANCE CREDIT.

(a) Increase in Credit Amount.--
(1) In general.--Section 45G(b)(1)(A) of the Internal
Revenue Code of 1986 is amended by striking ``$3,500'' and
inserting ``$6,100''.
(2) Inflation adjustment.--Section 45G of such Code is
amended by adding at the end the following new subsection:
``(f) Inflation Adjustment.--
``(1) In general.--In the case of a taxable year beginning
after 2027, the $6,100 amount in subsection (b)(1)(A) shall
be increased by an amount equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year 2026'
for `calendar year 2016' in subparagraph (A)(ii) thereof.
``(2) Rounding.--Any increase determined under paragraph
(1) which is not a multiple of $100 shall be rounded to the
nearest multiple of $100.''.
(b) Qualified Railroad Track Maintenance Expenditures.--
Section 45G(d) of the Internal Revenue Code of 1986 is
amended by striking ``January 1, 2015'' and inserting
``January 1, 2026''.
(c) Effective Date.--The amendments made by this section
shall apply to expenditures paid or incurred in taxable years
beginning after December 31, 2026.

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