Railroad Revitalization and Regulatory Reform Act
From Wikipedia, the free encyclopedia
The Railroad Revitalization and Regulatory Reform Act of 1976 was a United States federal law that funded the reorganized bankrupt Northeast and Midwest railroads that formed Conrail in 1975. The act also authorized financial subsidies for upgrading rail facilities.
It was soon succeeded by the Staggers Act of 1980 (passed under President Jimmy Carter) which deregulated rail, in contrast with the earlier 1970 tendencies (under Republican and nominally pro-market Gerald Ford) towards nationalization.
