Blumenauer introduces bill to aid railcar makers
By Erik Siemers, Business Journal Staff Writer
Business Journal Staff Writer
U.S. Rep. Earl Blumenauer on Wednesday introduced a bill designed to spur the use of fuel-efficient railcars while improving the marketplace for manufacturers like The Greenbrier Cos.
The Portland Democrat and U.S. Rep. Kevin Brady, R-Texas, are co-sponsors of the Green Railcar Enhancement Act, which would offer a 25 percent tax credit for replacing or rebuilding old, inefficient railcars.
The tax credit would be limited to cars built in 2010 and 2011 and require a minimum 8 percent increase in capacity or fuel efficiency.
“The railcar industry faces two challenges: They have lost 54,000 jobs in the last eighteen months, and they are saddled with an aging fleet that will have to be replaced,” Blumenauer said in a news release.
Blumenauer said the bill could create between 32,000 and 50,000 jobs nationwide.
The legislation has bi-partisan support from 50 members of Congress. It also received an endorsement from Lake Oswego-based Greenbrier, which believes it will accelerate demand for railcars that wasn’t expected to develop until 2012.
That could provide necessary relief to an industry facing the lowest number of new railcar deliveries in two decades.
“We anticipate many of the family-wage jobs generated by passage of the bill will be throughout Greenbrier’s extensive North American railcar manufacturing, repair and refurbishment network,” CEO Bill Furman said in a news release.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.