Railroad Revenue Act

Railroad Revenue Act - Imposes, under provisions of the Internal Revenue Code relating to transportation by air, a tax equal to one percent of the amount paid for the transportation of property within the United States by rail, motor vehicle, or water.

States that in the case of property transported: (1) from a point outside the United States to a point within the United States, or (2) from a point within the United States to a point outside the United States, the tax imposed shall apply to the amount paid for that part of the transportation which takes place within the United States.

Provides that, with specified exceptions, the tax imposed by this Act shall be paid by the person making the payment subject to the tax.