Hepburn Act of 1906
He also sponsored the Hepburn Act of 1906, a major priority in the second term of President Theodore Roosevelt. The Act gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and led to the discontinuation of free passes to loyal shippers. Scholars consider the Hepburn Act the most important piece of legislation regarding railroads in the first half of the 20th century, while economists debate whether it went too far, and if its passage contributed to the Panic of 1907.
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