Rail Act of 1980

[AI summary unavailable — showing source text] Rail Act of 1980 - Declares that the goals of this Act are: (1) to assist in rehabilitating the Nation's rail system to meet the demands of interstate commerce and national defense; (2) to reform Federal regulatory policy so as to preserve a safe and efficient rail system; (3) to assist the rail system to remain viable in the private sector of the economy; (4) to provide a regulatory process that balances the needs of carriers, shippers, and the public; and (5) to assist in the rehabilitation and financing of the rail system. Title I: Rail Transportation Policy - Amends the Interstate Commerce Act to set forth the policy of the United States in regulating the railroad industry, including: (1) establishment of reasonable rates through competition and demand for services; (2) minimum use of Federal regulatory control; (3) promotion of a safe and efficient rail transportation system by allowing rail carriers to earn an adequate rate of return; and (4) to provide rate regulation where there is an absence of effective competition. Title II: Railroad Rates, Profits, and Reinvestment - Authorizes a rail carrier providing transportation subject to the jurisdiction of the Interstate Commerc…