Schumer: Trump Kicks Off Desperate Economic Tour This Week As Admin Drives Up Prices With Monopoly-Like $85 Billion Rail Merger; Leader Schumer Urges Feds To Block Merger And[...]

New York, N.Y. - Today, Senate Democratic Leader Schumer (D-NY) warned that a planned railroad merger could send freight costs soaring. Leader Schumer says Federal Surface Transportation Board must ask more questions.

Today, Senate Democratic Leader Schumer (D-NY) warned that the planned merger between Union Pacific and Norfolk Southern could send freight costs soaring - from agriculture shipments to weaker supply chains. Standing in New York, Leader Schumer called for the Federal Surface Transportation Board to investigate and learn more about the merger. If allowed to go through, this merger would give one company unprecedented market power. Schumer also questions why President Trump fired a Fed Board Member that was likely to oppose the monopoly-like merger.

"President Trump is about to embark on an "affordability tour" around the United States. Yet - his administration is sabotaging the American people by bowing to big corporations and raising - not lowering - the cost of living," said Leader Schumer. "If this merger went through, it would be the largest rail deal in U.S. history. The companies claim this will boost competition and help workers. But, history shows the opposite. Decades of rail mergers have meant worse service, worse safety, and higher prices for consumers. This merger will send freight costs soaring and weaken our supply chains, making families pay more at the checkout aisle."

Leader Schumer said that the Federal Surface Transportation Board must protect competition and safety, and urged the Board to block the merger.

"This deal hands one company unprecedented power over America's rails," Schumer continued. "Look - this is a simple test for Trump. Side with railroad oligarchs or side with workers and families. Rubber-stamping this merger proves he is not on the side of working Americans. This merger is a fast-track right into the robber baron era. We must intervene."

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