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DJ MC

Amtrak Reduces U.S. Subsidy Request After Loss Narrows

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Yeah this is old, but was never posted. 

 

 

Amtrak, the U.S. intercity passenger railroad supported by taxpayers, today will ask Congress for 16 percent less in operating assistance for next year after recording its smallest annual loss in 38 years.

 

Amtrak will seek $373 million in operating support, compared with the $443 million it’s getting this year. It didn’t specify how much it will seek for capital improvements. The Washington-based railroad will submit to Congress today its budget request for its 2014 fiscal year, said Steve Kulm, a spokesman.

 

While Amtrak gets U.S. aid every year, its request comes as its authority from Congress to operate is due to expire in September. Amtrak is looking for more money in legislation to expand service and increase speeds between Washingtonand Boston, where it’s doubled its share of the rail-air market in the past decade, while its subsidies have been criticized by some congressional Republicans.

 

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Edited by DJ MC
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Gotta agree with Q23 on this one. It's going to be hard to get that money back if losses do go back to their previous levels, and then you're going to hear a bunch of stuff like "You operated on it once, why not now?" Also, I thought the makority, if not all, NEC profits are now going to the Acela II so there goes that funding.

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