A bill to amend the Regional Rail Reorganization Act of 1973 to require that steel materials acquired for 5 years by the Consolidated Rail Corporation shall be produced in the United States and to establish regulations respecting such acquisitions.

Amends the Regional Rail Reorganization Act of 1973 to require that steel material acquired during the next five years by the Consolidated Rail Corporation (Con Rail) be produced in the United States unless the chief executive officer of the Corporation 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.