Another program for federal surface transportation programs for highways, this act also provided additional programs to control competing trucking companies under the auspices of enacting highway safety.
No longer needed to regulate the industry, this act abolished the Interstate Commerce Commission and replaced it with the Surface Transportation Board, in favor of continued deregulation and market saturation to the point that the trucking industry remained untenable.
Designated about 160,955 miles of roads, including the Interstate Highway System. Congress was given the power to prioritize highway road projects, repeal federal speed limits, and require states to purchase new signs for the roads in question, thus encouraging easier transportation for truckers and worsening the problem of perfect competition save for the few wealthy trucking companies owned by former railroad capitalists.
Exacerbating the saturation of competition, this law promoted increased competition among interstate motor carriers by changing rules for rates, entry, and exemptions to be more favorable, and thus, more prohibitive to profit.
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