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. 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.
Read more about Railroad Revitalization And Regulatory Reform Act: Background, Overview of Law, Initial Reaction To The Act
Famous quotes containing the words railroad, reform and/or act:
“Though the railroad and the telegraph have been established on the shores of Maine, the Indian still looks out from her interior mountains over all these to the sea.”
—Henry David Thoreau (1817–1862)
“You have to make more noise than anybody else, you have to make yourself more obtrusive than anybody else, you have to fill all the papers more than anybody else, in fact you have to be there all the time and see that they do not snow you under, if you are really going to get your reform realized.”
—Emmeline Pankhurst (1858–1928)
“Color is my day-long obsession, joy and torment. To such an extent indeed that one day, finding myself at the deathbed of a woman who had been and still was very dear to me, I caught myself in the act of focusing on her temples and automatically analyzing the succession of appropriately graded colors which death was imposing on her motionless face.”
—Claude Monet (1840–1926)