Transcript: Government To Shut Down Interstate Commerce Commission

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The Interstate Commerce Commission will be shut down after 108 years to fit in with plans of a smaller federal government. The Commerce Commission is the government's oldest independent regulatory agency.

BOB EDWARDS, Host: Proponents of a smaller federal government have won a victory that is closing down the government's oldest independent regulatory agency. After 108 years in operation, the Interstate Commerce Commission is being shut down. Most of the agency's employees already have been laid off. Last Friday President Clinton dealt the final blow; he signed the bill that eliminates the ICC.

Joining me now is reporter Don Phillips, who covers ...

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