Surface Transportation Act

[AI summary unavailable — showing source text] Surface Transportation Act - Title I: Financial Assistance to Surface Transportation Companies - Revenue Financing and Railroad Equipment Obligation Insurance Fund Act - Creates in the Department of Transportation, under the Interstate Commerce Act, a Revenue Financing Division to aid in financing the transportation industry and commerce and to help in maintaining its economic stability and that of the country by promoting maximum employment and production. Provides for an Assistant Secretary of Transportation to assist the Secretary of Transportation in the execution of his functions under this title. Establishes a Loan Policy Board to establish any necessary general policies which shall govern the granting or denying of applications for financial assistance by the Secretary. Authorizes the Secretary to guarantee lenders against loss of principal and interest on loans made to any common carrier in the transportation industry organized or operating under the laws of any State, the District of Columbia, Puerto Rico, Guam, the Virgin Islands, or the United States. Provides that, in making such guarantees, the Secretary shall determine that the prospective earning power of the enterpr…