Transportation Labor Management Disputes Act

Transportation Labor-Management Disputes Act - Authorizes the President, whenever he believes an actual or threatened transportation strike or lockout will imperil the well-being of the nation or deprive any section of the country of essential transportation service, to appoint a board of inquiry to inquire into the issues involved.

Authorizes the Secretary of Labor, upon receiving the boards' report, to order a cooling-off period of up to 30 days, during which he may order the parties to prepare their final offers on the issues and to bargain collectively. Requires the parties to appoint a panel to resolve the dispute if collective bargaining fails to do so.