The U.S. President Who Signed Sweeping Railroad Economic Deregulation Bill – Jimmy Carter – Has Died
Written by David C. Lester, Editor-in-Chief
Pictured: President Carter signing the Staggers Rail Act into law on Oct. 14, 1980. Representative Harley O. Staggers (D-W.Va.), sponsor of the bill, stands to the President’s right. Staggers (1907-1991) was chair of the House Interstate and Foreign Commerce Committee. But directly behind Carter is the person most responsible for crafting the actual legislation, Rep. James J. Florio (D-N.J.) chair of the House Transportation Subcommittee.
White House/Wikimedia
PLAINS, Ga.–The 39th President of the United States, James Earl Carter, Jr. died peacefully at his home in Plains earlier today.
Carter, a Democrat, signed the Staggers Rail Act, which brought significant economic deregulation to the rail industry, on October 14, 1980. In the 1970s, the rail industry, especially in the northeastern and midwestern portions of the country, was on the ropes, yet some roads were in good financial shape. In the long run, this would have mattered little, as the strong roads needed connections with those in poor financial shape in order to continue to prosper.
Much has been written about the Staggers Act and its tremendous impact on the industry. Most industry observers believe that if the Staggers Act did not come about, this country’s private freight railroads would have been nationalized. You can read an Association of American Railroads fact sheet on the impact of Staggers.
The ability to earn adequate return on investment enabled the industry to rebuild its physical plant, provide better service, and introduce new services was a result of this historic legislation.
