Political Quotes

“As the sponsor of the bill to extend Section 45G of Title 26 in the IRS code, I rise today to clarify the impact that the extension of this provision within the text of H.R. 8 will have on short line railroads. As a Certified Public Accountant, I would like to iterate that in IRS Code section (1)(2) under 45G, it is the intent of the law that assignments of railroad track miles for purposes of calculating a railroad track maintenance tax credit for the taxable year that ended on December 31, 2012 may be completed in 2013, due to the late extension of the 45G credit in this legislation. This belated extension should not be construed as an attempt by Congress to eliminate the ability of short line railroads to use subsection (b)(2), but rather to preserve that ability for tax year 2012. The SPEAKER pro tempore. All time for debate has expired. Pursuant to House Resolution 844, the previous question is ordered. The question is on the motion by the gentleman from Michigan (Mr. Camp). The question was taken; and the Speaker pro tempore announced that the ayes appeared to have it. Recorded Vote”