WASHINGTON D.C. - Edward R. Hamberger, president and CEO of the Association of American Railroads (AAR), issued the following statement applauding the Trump Administration's tax plan released on Wednesday. "To spur economic growth and unleash innovation, we need a simpler, fairer tax code that works for American businesses. The freight rail industry applauds today's bold step toward restoring balance to our tax code and reducing the corporate rate to a globally competitive level. Currently, the major freight railroads pay on average a 33.5 percent effective federal tax rate and that climbs to 37 percent when state taxes are included. For the privately-owned rail industry, a more competitive business tax rate means a more competitive freight rail sector, which leads to more investments and a stronger network to serve customers and the economy."