The Railroad Revitalization and Regulatory Reform Act of 1976, commonly known as the 4R Act, was enacted on February 5, 1976. It established the basic outlines of regulatory reform in the railroad industry and provided transitional operating funds following Penn Central’s 1970 bankruptcy. The law approved the “Final System Plan” for the newly created Conrail and authorized Amtrak to acquire Northeast Corridor tracks and facilities.
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