The freight rail industry is bucking a Biden administration proposal that would force it to share cargo with competitors in an effort to make shipping more cost-efficient.
President Joe Biden last July asked the chair of the independent Surface Transportation Board to consider the rule in order to allow shippers to seek competitive bids for moving freight. On Monday, the STB finalized the comment period and has scheduled a public hearing on the proposal for March 15.
The Biden administration, along with groups that ship commodities, argues that the rule will lower the cost of shipping and, ideally, prices paid for by consumers during an era when supply chain logjams and inflation are top-of-mind.
But the rail industry, as well as some lawmakers on both sides of the aisle, argues that such a move would spur railroads to reduce their capital investments.
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