Airline Deregulation Legislation Statement on House of Representatives Action Approving the Legislation.

This is a welcome occasion. With this legislation we achieve two critical national objectives—controlling inflation and, at the same time, cutting unnecessary bureaucratic redtape.

When I announced support for airline deregulation soon after taking office, the bill had few friends. I am happy to say that today it appears to have no enemies. Industry has already benefited from it. In the last few months, price competition among domestic carriers in anticipation of this bill has brought lower fares, more passengers, and record profits.

Consumers are for it. Governors, mayors, the National League of Cities, small towns—all support airline deregulation.

The House of Representatives deserves congratulations for passing this important legislation. I particularly want to thank Speaker O'Neill, Chairman Bizz Johnson, and Representatives Glenn Anderson and Allen Ertel for their spirited championship of this effort to reduce Government meddling in the affairs of private business.

The deregulation bill will take decisionmaking out of the hands of five regulators and 800 Government bureaucrats who sit here in Washington and put it back in the hands of the men and women whose job it is to run the airlines. It will cut inflation. It will let free market forces operate as they should.

The Senate has already passed the bill. I hope it goes quickly to conference and reaches my desk for signature as soon as possible.