Washington, D.C. – Today, U.S. Darin LaHood (IL-18) and Brad Schneider (IL-10) reintroduced legislation that will incentivize investment in safer freight railcar manufacturing in the United States. The legislation will retain American jobs through the pandemic and ensure the sustainability of the North American steel and rail components supply chain.
The bill, known as the “Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act” or the “Freight RAILCAR Act,” will offer tax credits to encourage the adoption of new, more efficient, environmentally-friendly freight railcars. The legislation comes as demand for new railcars has plummeted amid the COVID-19 pandemic and thousands of workers have been laid off in response to increasingly dire economic circumstances for the freight railcar manufacturing industry.
“The Freight RAILCAR Act will spur job growth in the freight rail manufacturing sector, creating opportunities to invest in critical freight rail infrastructure, and strengthen our transportation system as we work to recover from COVID-19,” said Rep. LaHood. “I am proud to join my colleague from Illinois, Rep. Schneider, to reintroduce our bill that will support thousands of jobs in the United States.”
“Rail is integral to our state’s—and our nation’s—economy,” said Rep. Schneider. “As this industry faces historic downturn amid the current economic uncertainty, our legislation would help modernize America’s fleet while spurring economic demand, on top of environmental and public safety benefits.”
For decades, Illinois has been a major hub of the nation’s rail network. Illinois is home to a significant rail affiliated industry with:
- More than $5 billion in annual economic value generated by rail suppliers in Illinois
- More than 9,400 employees working directly for rail supplies in Illinois
Approximately half of these jobs are in the manufacturing, construction, and industrial sector - This legislation would support industry companies like Progress Rail in Danvers, Illinois
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