Reed-Bullwinkle Act

(U.S. law/shipping) Legislation originally passed by the U.S. Congress in 1948 authorizing the creation of rate bureaus which would provide a sanctioned forum for domestic railroads to set agreements on rates. In the 1970 revision of the Act, Congress expressly granted railroads antitrust immunity for any collective rate-making activity accomplished in accordance with the procedures described in the Act. See rate bureau.