Accelerating investment in US railroads’ capacity could come to a halt if proposed legislation to re-regulate many of the railroads’ prices is brought into force, the chief executives of three of the top five US railroads have warned.

The chief executives of CSX Corporation, Union Pacific and BNSF – all among the five large US-based Class I railroads – have told the Financial Times that fewer new investments will be justifiable if any of the four bills to regulate rates being debated in Congress becomes law.