 By 1975, the official Amtrak color scheme was painted on most Amtrak equipment and newly purchased locomotives and rolling stock began appearing.Amtrak soon had the opportunity to acquire rights-of-way.Following the bankruptcy of several northeastern railroads in the early 1970s, including Penn Central, which owned and operated the Northeast Corridor (NEC), Congress passed the Railroad Revitalization and Regulatory Reform Act of 1976.