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The tax credit originated with the American Jobs Creation Act of 2004. The credit was capped at $3,500 per mile of track, with eligibility for Class II and Class III railroads, any shippers who transport property using a Class II or Class III railroad, and companies that perform maintenance on or provide material to qualified railroads. [3]
Rail freight transport is the use of railways and trains to transport cargo as opposed to human passengers. A freight train , cargo train, or goods train is a group of freight cars (US) or goods wagons ( International Union of Railways ) hauled by one or more locomotives on a railway, transporting cargo all or some of the way between the ...
Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo. For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000.
The standard mileage rate is 67 cents per mile for business purposes, 21 cents per mile for medical or moving purposes and 14 cents per mile for charitable purposes. These rates apply to gas ...
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In 2004, when it was still run by a public company, New York Regional Rail, it carried 3400 carloads (a carload being one loaded rail car), charging between $250 and $1,500 per carload, and estimated that it needed to handle in excess of 4200 carloads per year to be profitable. [21]
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