To amend the Communications Act of 1934 to limit the rates and charges that may be imposed on interstate and foreign communications made through providers of operator services.

Amends the Communications Act of 1934 to exempt providers of telephone operator services who are in compliance with a billed party preference system established by the Federal Communications Commission (FCC) from the requirement of filing an informational tariff with respect to calls for which operator services are provided. Eliminates provisions allowing the FCC to waive such requirement after October 17, 1994.

Requires the FCC to: (1) review the informational tariffs and to determine whether the rates and charges filed appear to be just and reasonable; and (2) if they appear to be unjust or unreasonable, require such provider of operator services to demonstrate that they are just and reasonable. Eliminates provisions that require the provider of operator services to announce that its rates are available on request at the beginning of each call.

Requires the FCC to prescribe a standard for rendering determinations that rates or charges are unjust and unreasonable if they exceed whichever of the following the FCC determines is most consistent with the public interest and the protection of consumers: (1) the rate or charge for the same service of the dominant common carrier providing such service; or (2) the weighted average of the charges contained in the tariffs filed by other operator services providers, weighted by traffic volume among such providers. Requires the FCC, by regulation, to define "dominant common carrier" for purposes of this Act.