49 CFR §1.88

1. (a)Regulating safety functions pertaining to railroads;
2. (b)Conducting research and development activity in support of safer and more efficient rail transportation;
3. (c)Investigating and issuing reports concerning collisions, derailments, and other railroad accidents resulting in serious injury to persons or to the property of a railroad;
4. (d)Developing safety strategies to combat the causes of collisions, derailments, and other railroad accidents, as well as to reduce overall risk in the Nation's rail systems;
5. (e)Promoting and strengthening the national rail system, including freight rail and high speed and higher performing intercity passenger rail.
6. (f)Providing financial assistance, including grants, loans and loan guarantees, for rail freight and intermodal development, as well as high-speed and intercity passenger rail development;
7. (g)Maximizing the positive impacts on the U.S. economy by encouraging domestic manufacturing on rail projects through the enforcement of Buy America provisions; and
8. (h)Strengthening local communities by supporting station-area development and strong connections among rail passenger service, intercity bus, local transit, bicycle/pedestrian, and airport facilities.