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AAR STATEMENT IN RESPONSE TO THE U.S. SENATE FINANCE COMMITTEE DEFICIT REDUCTION BILL

 WASHINGTON, June 18 /PRNewswire/ -- The Association of American Railroads issued the following:
 The freight railroad industry is troubled that the Senate Finance Committee has not properly considered a major inequity that their proposed tax bill will inflict on rail carriers. The committee's bill will require railroads to pay two deficit reduction taxes.
 Confronted with deficit taxes that are nearly 60 percent higher than their competitors, railroads will be disadvantaged in competing with less fuel-efficient trucks.
 Although one objective of the Senate Finance Committee was to reduce the deficit, while encouraging fuel conservation, its bill unfortunately will penalize, through higher taxes, the most fuel-efficient transportation mode.
 -0- 6/18/93
 /CONTACT: Carol Perkins of the Association of American Railroads, 202-639-2552/


CO: Association of American Railroads ST: District of Columbia IN: TRN SU: LEG EXE

IH-MH -- DC006 -- 3502 06/18/93 10:44 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:142
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