PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Keating in Topeka Capital-Journal: Weakened Railroads Hurt Small Business

By at 15 April, 2018, 12:43 pm

In an April 15 Topeka Capital-Journal Op-ed, SBE Council chief economist Ray Keating writes about the important role small businesses play in our nation’s freight railroad system, and how restrictive policies – such as a return to over-regulation – would hurt these small firms, our economy and consumers.

Keating writes:

“As the American economy grows, U.S. freight shipments are expected to grow by more than 40 percent from 2015 and 2040. So, it’s important that the best policy environment be established to incentivize entrepreneurship, investment and innovation.

Any relapses into a regime of over-regulation — such as that prevailing before partial economic deregulation — would bode ill for railroads in terms of their ability and incentive for investment, for rail maintenance and safety, and for their ability to compete in the freight transportation marketplace.

The threat is alive and well at the U.S. Surface Transportation Board, which seeks to reimpose price controls on the railroad industry and force private carriers to open their rail lines to competitors. If imposed, such measures would undermine profitability, investment and service.”

He notes that President Trump’s nominees to the U.S. Surface Transportation Board will appear before the Senate Commerce Committee and these individuals must pledge to help our railroad system thrive without the imposition of price controls or other misguided policies.

Read the full Op-ed here.

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