Transportation Improvement Act

[AI summary unavailable — showing source text] Transportation Improvement Act - Provides that each rate for a service rendered or to be rendered in the transportation of passengers or property, or in connection therewith, shall be just and reasonable, and every unjust and unreasonable rate is prohibited and declared to be unlawful. Directs the Interstate Commerce Commission, on a continuing basis, to investigate and identify traffic which is moving at a rate below the variable cost of handling the traffic to which the rate applies and cause the rate to be promptly raised at least to the variable cost level. States that whenever all or any portion of a line of railroad, or the operation thereof, is abandoned by a railroad carrier in accordance with the provisions of this section, any person may apply for a certificate of public convenience and necessity authorizing the applicant to operate as a common carrier over the route or routes necessary to provide service. States that, except as specifically authorized by another Act of Congress, a carrier by railroad subject to this part may not abandon all or any portion of a line of railroad or the operation thereof without first obtaining from the Commission a certification that the p…