Decades of overregulation nearly bankrupted the nation’s freight railroads during the 1970s by adding layers of costly red tape that raised prices for railroads and, ultimately, all American consumers. Significant regulatory reforms helped the industry bounce back, and consumer prices fell dramatically, as research has clearly shown. Regulators must remember this lesson as they consider the imposition of new onerous rules that could increase costs for railroads — and for shoppers at the checkout counter.
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