Union Pacific Railroad Co. v. United States

OPINION

MARGOLIS, Judge.

Defendant brought this counterclaim to collect interest in the amount of $10 million that it allegedly erroneously paid to the plaintiff, Union Pacific Railroad Company.* The sole issue before the court is whether the increased interest rates imposed by the Act of January 3, 1975 (Act of 1975), the Economic Recovery Tax Act of 1981 (ERTA) and the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) apply to tax amounts determined under the Internal Revenue Code of 1939. The parties have cross moved for summary judgment. After considering the entire record and…