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Nationalize the rails. Let companies compete on their rolling stock.

There are some good theoretical arguments for such a structure, but OTOH experience trying to apply it on railroads hasn't been exactly positive. UK probably being the prominent example.

Obviously it would be impossible in today's political climate, but I believe it would be a solvable problem.

Ensuring full utilization of Positive Train Control could allow a lot more traffic (including a lot more passenger rail, and make it a first class citizen of the rails) -- https://en.wikipedia.org/wiki/Positive_train_control

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