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Railroad Revitalization and Regulatory Reform Act
The Railroad Revitalization and Regulatory Reform Act of 1976, often called the "4R Act," is a United States federal law that established the basic outlines of regulatory reform in the railroad industry and provided transitional operating funds following the 1970 bankruptcy of Penn Central Transportation Company.〔Railroad Revitalization and Regulatory Reform Act, Pub. L. 94-210, , . 1976-02-05.〕 The law approved the "Final System Plan" for the newly created Conrail and authorized acquisition of Northeast Corridor tracks and facilities by Amtrak.
The Act was the first in a series of laws which collectively are described as the deregulation of transportation in the United States. It was followed by the Airline Deregulation Act (1978), Staggers Rail Act (1980), and the Motor Carrier Act of 1980.
==Background==
Following the massive bankruptcy of the Penn Central in 1970, Congress created Amtrak to take over the failed company's intercity passenger train service, under the Rail Passenger Service Act.〔Rail Passenger Service Act of 1970, Pub. L. 91-518, . 1970-10-30.〕 Congress passed the Regional Rail Reorganization Act of 1973 (the "3R Act") to salvage viable freight operations from Penn Central and other failing rail lines in the northeast, mid-Atlantic and midwestern regions, through the creation of Conrail.
〔Regional Rail Reorganization Act of 1973, Pub.L. 93-236, 87 Stat. 985, .〕 Conrail began operations in 1976.〔Dayton, Mark R. (1986). ("Economic Viability of Conrail: A Special Study." ) (Washington, D.C.: U.S. Congressional Budget Office).〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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