Looming Railway Shutdown Could Cost US $30B
The U.S. is facing a potential railway shutdown on Jan. 1, 2016, that could hurt the economy more than 2013's government shutdown.By Jamal Andress | October 1, 2015
After avoiding another government shutdown by just a few hours, Congress has yet another economic fire to put out.
The U.S. is facing a potential railway shutdown on Jan. 1, 2016 — a shutdown that American Chemistry Council says would be more detrimental to the economy than the government shutdown of 2013.
The government shutdown in 2013 from Oct. 1 to Oct. 16 cost the US economy $24 billion. The American Chemistry Council estimates the railroad shutdown could cost the US economy $30 billion and 700,000 jobs.