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NFU says without PTC extension economic harm inevitable

The National Farmers Union (NFU) says without passage of the Positive Train Control (PTC) extension, a key economic engine will come to a halt when grain and other products can no longer be shipped by rail.

“And that’s going to really take a significant chunk and blow to our economy,” said NFU’s Vice President of Programs, Chandler Goule. “We’ve seen estimates of billions of dollars that could come out of the U.S. economy if we don’t fix this rail situation as soon as possible and get this extension passed.”

Goule tells Brownfield the three year extension of PTC until 2018 is receiving bicameral and bipartisan support, but Congress needs to take action by early November.

“A lot of people don’t think that PTC is going to affect them, but I’m telling you if we shut down the rail system people are going to feel it within a day or two,” Goule said.

It’s estimated that a disruption of rail service for just one month would result in a $30 billion dollar loss to the economy and 700,000 jobs would be lost.

Audio: Chandler Goule, Sr. Vice President Programs, National Farmers Union

Positive Train Control (PTC) technology allows trains to be operated remotely, and was designed to prevent collisions or derailments.