b) The FBSA does not expressly pre-empt petitioners common-law tort claims. Section 10s express pre-emption clausewhich applies to a [state or local] law or regulationis most naturally read as not encompassing common-law claims for two reasons. First, the article a implies a discreteness that is not present in common law. Second, because a word is known by the company it keeps, Gustafson v. Alloyd Co., 513 U.S. 561, 575, the terms law and regulation used together indicate that Congress only pre-empted positive enactments. The Acts saving clause buttresses this conclusion. It assumes that there are some significant number of common-law liability cases to save, and §10s language permits a narrow reading excluding common-law actions. See Geier v. American Honda Motor Co., 529 U.S. 861, 868. And the contrast between its general reference to liability at common law and §10s more specific and detailed description of what is pre-emptedincluding an exception for state regulations addressing uniquely hazardous conditionsindicates that §10 was drafted to pre-empt performance standards and equipment requirements imposed by statute or regulation. This interpretation does not produce anomalous results. It would have been perfectly rational for Congress not to pre-empt common-law claims, which necessarily perform an important remedial role in compensating accident victims. Pp. 1012.
(c) The Coast Guards 1990 decision not to regulate propeller guards also does not pre-empt petitioners claims. That decision left applicable propeller guard law exactly the same as it had been before the subcommittee began its investigation. A Coast Guard decision not to regulate a particular aspect of boating safety is fully consistent with an intent to preserve state regulatory authority pending adoption of specific federal standards. The Coast Guards explanation for its propeller guard decision reveals only that the available data did not meet the FBSAs stringent criteria for federal regulation. The Coast Guard did not take the further step of deciding that, as a matter of policy, the States and their political subdivisions should not impose some version of propeller guard regulation, and it did not reject propeller guards as unsafe. Although undoubtedly intentional and carefully considered, the 1990 decision does not convey an authoritative message of a federal policy against propeller guards, and nothing in the Coast Guards recent regulatory activities alters this conclusion. Geier v. American Honda Motor Co., 529 U.S. 861, distinguished. Pp. 1216.