Legislation to accelerate the phase-out of older rail tank cars to reduce accidental crude oil spills has been introduced by Finance Committee Ranking Minority Member Ronald L. Wyden (D-Ore.) and six other US Senate Democrats. The bill, S. 1175 , also would impose a fee of $175/shipment on older tank cars and would make a tax credit available to railroads that upgrade newer cars to the highest required safety standard. “It’s time for the [US] Department of Transportation to push faster and more aggressively to make oil-by-rail transportation safer,” Wyden said on Apr. 30. “This legislation takes a market-based approach to get unsafe cars off the tracks and safer cars on the tracks more quickly.” The bill also would use the revenue raised by the fee to help communities and first responders be better prepared in the event of a rail accident. It would establish […]