Leader Schumer Floor Remarks On Union Pacific’s Intent To Acquire Norfolk Southern And The Need To Prevent Further Consolidation Among Railroad Companies

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the potential merger between Union Pacific and Norfolk Southern, which would ultimately lead to dangerous consolidation and monopoly power. Below are Senator Schumer’s remarks, which can also be viewed here:

This week, Union Pacific – the largest freight railroad in America – announced its intent to acquire Norfolk Southern in an $85 billion mega-merger, the largest railroad deal in U.S. history. If approved, this deal would cut down the industry from four major players to just three, pushing us even further down the road of dangerous consolidation and monopoly power.

And right on cue, the companies are already making the same tired claims: this merger will promote competition, improve service, benefit workers and customers alike. History tells us the opposite.

The last four decades of railroad mergers have led to worse service, worse safety, worse working conditions, higher costs for shippers – which ultimately means higher prices for consumers. They also promise no union jobs will be cut. But we’ve heard that before, from the same executives who’ve laid off thousands of workers while raking in record profits.

That’s why SMART-T.D., the largest rail union in the country, is opposed to this deal. They know what’s coming: job cuts, corner-cutting, corporate greed at scale.

The Surface Transportation Board has a responsibility to protect competition, safety, and the public interest. This is a hostile takeover of America’s infrastructure.

And it’s a test for the Trump administration. Will they side with the railroad oligarchs, or will you side with workers and families?

If Donald Trump rubber-stamps another merger that hands over critical infrastructure to a corporate cartel, he’ll prove once again that he’s not on the side of working Americans.

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