Statement of Administration Policy: H.R. 2364 - Amtrak Reauthorization and Improvement Act of 1989

(House)
(Luken (D) Ohio)

The Secretary of Transportation and the Director of the Office of Management and Budget would recommend a veto of H.R. 2364 if it were presented to the President in its current form. H.R. 2364 is objectionable because it would:

• increase appropriation authorizations for Amtrak ($2 billion during FYs 1990-1992); and
  
  
• require review of acquisitions of control of certain rail carriers by the Interstate Commerce Commission. The Administration is studying carefully the issue of leveraged buyouts in the transportation industry. It would be premature and potentially harmful to legislate for railroads prior to completion of the transportation industry-wide review.