Before the Interstate Commerce Commission: Increased Freight Rates and Charges, Nationwide 8 Percent

by Elizabeth Pinkston on December 1, 1978
by Elizabeth Pinkston, R. Robert Russell, Roy A. Nierenberg and Thomas D. Hopkins

On November 1, 1978, the nation’s railroads filed an 8 percent freight rate increase request with the Interstate Commerce Commission (ICC or Commission) to become effective December 15, 1978. The Commission called for comments by December 1 and asked whether the proposed increase would violate the voluntary wage and price standards of the President’s Anti- Inflation program. On November 24, the railroads announced that they would , reduce the pending rate increase request to bring the increase within the anti-inflation guidelines. That same day, the Council on Wage and Price Stability (Council),  which is responsible for interpreting the antiinflation standards, stated that the railroads’ revised request would appear to meet the price standards and that the Council would monitor changes in railroad rates to ensure that the standards were met.

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