Senator Smathers' Vision Created Vibrant Freight Rail System; Advocated De-Regulation of Railroad Industry; Statement by Edward R. Hamberger, President and CEO Association of American Railroads

While in his first term as a United States Senator, he recognized that the railroad industry was harmed by a number of laws that favored other modes of transportation. To redress some of those problems, he was the chief sponsor for the Surface Transportation Act of 1958. That law rolled back some of...

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Bibliographic Details
Published inPR Newswire
Format Newsletter
LanguageEnglish
Published New York PR Newswire Association LLC 25.01.2007
Subjects
Corporate presidents
Hamberger, Edward R
Railroad accidents & safety
Railroad transportation
Railroads
Regulation
Smathers, George
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Summary:While in his first term as a United States Senator, he recognized that the railroad industry was harmed by a number of laws that favored other modes of transportation. To redress some of those problems, he was the chief sponsor for the Surface Transportation Act of 1958. That law rolled back some of the heavy handed federal regulations governing the freight railroad industry and allowed railroad companies -- like other privately-owned American businesses - - to compete in the open market. Although that law helped, railroads remained under intense competitive pressure from trucks, water carriers and airlines that were heavily subsidized by taxpayers and subject to far less regulation.