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U.S. Code as of:
01/19/04
Section 701. Congressional declaration of policy
(a) Findings
The Congress finds and declares that -
(1) Essential rail service in the midwest and northeast region
of the United States is provided by railroads which are today
insolvent and attempting to undergo reorganization under the
Bankruptcy Act.
(2) This essential rail service is threatened with cessation or
significant curtailment because of the inability of the trustees
of such railroads to formulate acceptable plans for
reorganization. This rail service is operated over rail
properties which were acquired for a public use, but which have
been permitted to deteriorate and now require extensive
rehabilitation and modernization.
(3) The public convenience and necessity require adequate and
efficient rail service in this region and throughout the Nation
to meet the needs of commerce, the national defense, the
environment, and the service requirements of passengers, United
States mail, shippers, States and their political subdivisions,
and consumers.
(4) Continuation and improvement of essential rail service in
this region is also necessary to preserve and maintain adequate
national rail services and an efficient national rail
transportation system.
(5) Rail service and rail transportation offer economic and
environmental advantages with respect to land use, air pollution,
noise levels, energy efficiency and conservation, resource
allocation, safety, and cost per ton-mile of movement to such
extent that the preservation and maintenance of adequate and
efficient rail service is in the national interest.
(6) These needs cannot be met without substantial action by the
Federal Government.
(b) Purposes
It is therefore declared to be the purpose of Congress in this
chapter to provide for -
(1) the identification of a rail service system in the midwest
and northeast region which is adequate to meet the needs and
service requirements of this region and of the national rail
transportation system;
(2) the reorganization of railroads in this region into an
economically viable system capable of providing adequate and
efficient rail service to the region;
(3) the establishment of the United States Railway Association,
with enumerated powers and responsibilities;
(4) the establishment of the Consolidated Rail Corporation,
with enumerated powers and responsibilities;
(5) assistance to States and local and regional transportation
authorities for continuation of local rail services threatened
with cessation; and
(6) necessary Federal financial assistance at the lowest
possible cost to the general taxpayer.
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