On the eve of adjournment last week, Congress belatedly shouted its approval of a costly federal rescue for the tottering passenger railroads. The House and Senate approved emergency legislation creating a National Railroad Passenger Corp. to take over and run intercity passenger trains. Commuter service is unaffected.*
If President Nixon signs the measure as expected, the new corporation, to be known as "Railpax," will begin operations by May 1 as a semipublic but government-controlled body. Railroads will have until then to sign contracts transferring their passenger runs to the corporation. The railroads, however, will have to buy designated amounts of...
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