A bill to amend the Railroad Revitalization and Regulatory Act of 1976 to require that steel materials acquired for 5 years using financial assistance given under that act shall be produced in the United States and to establish regulations respecting such acquisitions.

Amends the Railroad Revitalization and Regulatory Reform Act of 1976 to require that steel materials acquired during the next five years using financial assistance provided by such Act be produced in the United States unless the Secretary of Transportation determines that such acquisition would be inconsistent with the public interest or the cost of such acquisition would be unreasonable. Establishes standards for determining whether the price for domestically produced steel is unreasonable.