Railroad 25% Tax Credit

I just wrote to my representatives regarding this new 25% tax credit for railroads to improve capacity. I found it on www.gorail.org . My questions are:

1. When is this bill set to be brought up in Congress?

2. What are the chances of it actually getting passed?

I just read the article in "Railroad & Railfan " that referenced the UTU being against this tax credit as part of their battles with the industry.It really appears that the UTU is biting the hand that feeds them and hurting their own membership by being against this credit.Any UTU members out there that can explain how this can help their cause?
Ed Baclawski

Back during the mid-1960's, the investment tax credit in effect at the time played a substantial role in encoraging many railroads to replace their original diesels bought in the 1950's with "second-generation" models

The incentive is a credit, in other words, a direct offset of taxes due, in exchange for investing retained earnings into new plant or equipment. At the time mentined in the previous paragraph, Federal corporate income txes were somewhat higher, but some roads (Jersey Central was a good example) had operated in the red for so long that threre were no taxes to offset. In CNJ's case some new GP-35 delivered in 1966 bore a strong resemblance to the power of parent Baltimore & Ohio, so I suspect that parent B&O bought the Geeps and leased them

Remember, most railroad property is both fixed and dedicated to a particular use. It can't be sold, moved or converted to another use if the political climate changes.