A bill to reform the economic regulation of railroads, to improve the quality of rail service in the United States through financial assistance which encourages railroad restructuring, and for other purposes.

[AI summary unavailable — showing source text] Title I: Railroad Deregulation - Railroad Deregulation Act of 1979 - Directs the Interstate Commerce Commission to consider certain factors including the following to be in the public interest with respect to rail transportation: (1) maximum reliance on competitive market forces; (2) avoidance of undue concentrations of market power; (3) reduction of regulatory barriers to entry into the industry; and (4) maintenance of fair wages and working conditions. Stipulates that five years after the enactment of this Act any railroad subject to the jurisdiction of the Commission may establish any rate and condition for transportation or other service. Sets forth the allowable level for rate increases during the five year transitionary period following the effective date of this Act. Stipulates that investigations of rate increases during such interim period may only be made upon complaint by the purchaser of the rail services involved or by an organization representing such a purchaser. Stipulates that in order to initiate such an investigation the complaining purchaser must show that he will be or has been competitively damaged by the imposition of the rate involved and that he is likely t…