Railway Association, a government corporation, regarding the disposition of bankrupt railroads. The Staggers Rail Act of 1980 further reduced ICC authority by allowing railroads to set rates more freely and become more competitive with the trucking industry. The Motor Carrier Act of 1980 deregulated the trucking industry. Abolition Congress abolished the ICC in 1995 (see Interstate Commerce Commission Termination Act) and many of its remaining functions were transferred to a new agency, the Surface Transportation Board. See also History of rail transport in the United States References External links "People & Events: Interstate Commerce Commission" - PBS Online 1887 in American law history of rail transportation in the United States Interstate Commerce Commission United States federal transportation legislation United States railroad regulation