 In late 1969 multiple proposals emerged in the United States Congress, including equipment subsidies, route subsidies, and, lastly, a "quasi-public corporation" to take over the operation of intercity passenger trains.Matters were brought to a head on June 21, 1970, when the Penn Central, the largest railroad in the Northeast United States and teetering on bankruptcy, filed to discontinue 34 of its passenger trains.In October 1970, Congress passed, and President Richard Nixon signed into law, the Rail Passenger Service Act.