A bill to provide Federal loan guarantee for certain common carriers of express.

Authorizes the Secretary of Transportation, with the approval of the Secretary of the Treasury, to guarantee loans and other obligations issued to enable common carriers to refinance existing obligations. Requires the Secretary to make specified findings of fiscal solvency and responsibility before issuing such loan guarantees. Directs the Secretary to prescribe and collect an annual guarantee fee from common carriers sufficient to cover the administrative expenses of this program.