Sec. 2. findings

199 words·~1 min read·/statute-compilations/comps-1804/sec-2

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## Sec. 2 findings The Congress hereby finds that— ####

(1)historically, railroads were the essential factor in the national transportation system; ####

(2)the enactment of the Interstate Commerce Act was essential to prevent an abuse of monopoly power by railroads and to establish and maintain a national railroad network; ####

(3)today, most transportation within the United States is competitive; ####

(4)many of the Government regulations affecting railroads have become unnecessary and inefficient; ####

(5)nearly two-thirds of the Nation's intercity freight is transported by modes of transportation other than railroads; ####

(6)earnings by the railroad industry are the lowest of any transportation mode and are insufficient to generate funds for necessary capital improvements; ####

(7)by 1985, there will be a capital shortfall within the railroad industry of between $16,000,000,000 and $20,000,000,000; ####

(8)failure to achieve increased earnings within the railroad industry will result in either further deterioration of the rail system or the necessity for additional Federal subsidy; and ####

(9)modernization of economic regulation for the railroad industry with a greater reliance on the marketplace is essential in order to achieve maximum utilization of railroads to save energy and combat inflation.