Airline Deregulation Legislation Statement by the President.

I welcome the Senate's action tonight in passing, 83-9, the airline regulatory reform legislation.

This is an important step in the fight against inflation, as I said in my anti-inflation message last week. Many airline carriers have already begun to reduce fares in expectation of its enactment.

Making this bill law will guarantee that the trend toward lower fares continues and broadens to benefit more passengers-and it will put an end to a form of Government regulation of business that is not only unnecessary but also counter. productive from the public's point of view.

Many Senators—and Senators Cannon, Kennedy, and Pearson, in particular-deserve credit for their leadership on this bill. I urge the House to act upon it soon as well.