A resolution to direct the Committee on Commerce to investigate the financial problems of the Nation's railroads.

Directs the Committee on Commerce, or any subcommittee thereof, in accordance with its jurisdiction specified in the Standing Rules of the Senate, to make a complete and full study and investigation for the purpose of determining: (1) the reasons for the current financial problems of the Nation's railroads, particularly in certain regions; (2) the feasibility of a plan under which at the request of a railroad the Federal Government would purchase the railroad's right-of-way and appurtenant structures and devices except rolling stock used therewith and thereafter the railroad would pay for the use of such right-of-way on a revenue mile or other appropriate basis; (3) whether the Federal Government should undertake research for, and development of, new and improved railroad locomotives and cars; (4) whether the Federal Government should assist the railroads in providing a reserve pool of freight and specialty care and other equipment for use during periods of unusually high demand; and (5) such other matters as may be relevant to solving such financial problems.

Requires the Committee to report to the Senate within 12 months the results of its study and investigation, together with its recommendations for any necessary legislation.

Empowers the Committee on Commerce to expend such funds from the contigency fund of the Senate as are necessary for office space and supplies, hiring of staff, payment of expenses of witnesses and all other costs in connection with its study.