A bill to amend the Interstate Commerce Act to continue to allow railroad rate flexibility.

Amends the Interstate Commerce Act to: (1) provide that the Interstate Commerce Commission may not suspend rate increases based upon findings that the carrier has "market dominance" over the service to which such rate increase applies; (2) extend until January 1, 1983, the limitation on the Commission's power to suspend rate schedules; and (3) provide that the limitations on the Commission's power to suspend such rates apply only if the aggregate of rate increases and decreases in any calendar year is not greater than seven percent of the rate in effect on January 1st of that year.