Interstate Commerce Act

The Interstate Commerce Act of 1887 is a United States federal statute that was the first federal law to regulate a private industry, specifically the railroads, in response to widespread public complaints about discriminatory freight rates and monopolistic practices. It required that railroad rates be reasonable and just, prohibited certain forms of price discrimination such as charging more for a short haul than a long haul over the same line, and banned pooling arrangements among competing railroads. The act created the Interstate Commerce Commission, the first independent federal regulatory agency in United States history, to oversee compliance and investigate complaints, although the commission's early enforcement powers proved limited until later amendments strengthened them. The Interstate Commerce Commission itself was abolished in 1995, with its remaining functions transferred to the newly created Surface Transportation Board.