Wheeler-Rayburn Act, 1935

   In 1935, Senator Burton K. Wheeler and Congressman Samuel Rayburn jointly sponsored the Public Utilities Holding Company Act, which also came to be known as the Wheeler-Rayburn Act. The act gave the federal government the power to regulate rates and business practices of interstate utility companies. Utility holding companies had to register with the Securities and Exchange Commission (SEC), and the SEC had the power to dissolve any company that could not demonstrate its usefulness.

Historical Dictionary of the Roosevelt–Truman Era . . 2015.

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