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Assignment 1: The Interstate Commerce Act (ICC)

Satisfactory Essays
1) The Interstate Commerce Act was passed in 1887 and made the railroads the first industry subject to Federal regulation. The law was passed due to public demand that the railroads be regulated. The law also created the Interstate Commerce Commission (ICC), which was an enforcement board used to regulate the railroads. Some provisions of this act was to stimulate competition and others were to penalize it. The law was not very effective, the most successful provision was the requirement that railroads submit annual reports to the ICC and the ban on special rates.
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