Staggers Act
 |
Definition of 'Staggers Act 'A federal law that greatly deregulated the American railroad industry. The Staggers Rail Act was passed in 1980 and was intended to replace the highly-regulated structure of the American rail shipping sytem which had existed since the passing of the Interstate Commerce Act of 1887. The Act was named after its sponsor, congressman Harley Staggers who was the chair of the House Interstate and Foreign Commerce Committee. |
 |
Investopedia explains 'Staggers Act 'The primary changes to the regulatory rail system under the Act included:1. Rail carriers could charge any given rate for services unless the ICC determined no competition for such services existed. 2. Industry-wide rate adjustments were removed. 3. Access must be given by one railroad to another's rails in the case where a single railroad had "bottleneck" control of the rail traffic. Following the Act, the studies found that the industry had both lowered costs and prices for services, favoring the future prospects of both the rail industry and its customers. |
Related Definitions
Articles Of Interest
-
The History Of Economic Thought
Economics is a vital part of every day life. Discover the major players who shaped its development. -
A Primer On The Railroad Sector
The railroad industry might seem antiquated, but it remains an important service that reaches all corners of the country. -
Explaining The World Through Macroeconomic Analysis
From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone. -
Understanding Supply-Side Economics
Does the amount of goods and services produced set the pace for economic growth? Here are the arguments. -
Wall Street History: Railroads And Rockefeller
This week in financial history marks the beginning of antitrust legislation and a huge leap for labor unions. -
Should You Add A Securities License To Your Qualifications?
Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it. -
How To Report A Tax Cheat
If you report a tax evader to the IRS, you could be eligible for a reward. -
GAAP And The IFRS Standards Convergence Efforts In 3 Substantial Areas
Understand the specific steps that have been taken in hopes of converging the GAAP and the IFRS accounting standards, despite the philosophically and culturally based methodological differences ... -
How Much Will Your Taxes Rise Based On Your Salary?
Find out how high your taxes will rise this year. -
Department Of Justice Sues Standard & Poor's Over Mortgage Crisis - Is Moody's Next?
The U.S. Department of Justice sued Standard & Poor's and is seeking more than $5 billion in damages.
Free Annual Reports
