The most important provision of the law gave the ICC price control power to replace existing rates with "just-and-reasonable" maximum rates, and authorized the Commission to define what was just and reasonable.Debate Handbook on Wage and Price Controls, by J. Weston Walch, James P. McGough, p. 23 (1970)The American Presidents: The Office and the Men, by Frank Northen Magill, p. 469 (1986) The Act made ICC orders binding; that is, the railroads had to either obey or contest the ICC orders in federal court. To speed the rate-setting process, the Act specified that appeals from rulings of the district courts would go directly to the U.S. Supreme Court.
tHe moSt iMportant PRoViSION oF the LAw gAvE THE icc price COntrol powER to replacE eXisTiNg RaTeS WIth "Just-aND-reasonabLe" maxiMUm rates, and AUthoRizeD the commIssioN to define wHat WaS just anD reasonablE.DEbaTE hAndbOok on wAgE aNd PricE coNtROlS, by j. WestoN waLCH, jamES p. mcGoUgH, p. 23 (1970)THe AmeriCaN PreSidenTs: tHE oFfiCe And thE mEn, BY frAnK noRTheN magilL, p. 469 (1986) THE Act mAde iCC orDErs bINdInG; that is, tHe RAilrOADS Had to EItheR OBEy Or cOnTest thE IcC orderS in fEdERal CoURt. to Speed the rate-settiNg ProCEss, the acT SpeCIfiEd thaT APPEals fROm RuLINgS oF the dIstRict CourTS wOULd go dIreCtLy to tHE U.s. supreme CourT.