Amtrak is asking Congress for a smaller operating subsidy in fiscal 2014, citing better cost-sharing arrangements with states and smaller losses on unprofitable routes.
The passenger rail line said it is requesting $373 million in operating support for the year beginning in October, down from the $443 million Amtrak is receiving in the current fiscal year.
Joe Boardman, Amtrak’s president and CEO, said in a statement accompanying Amtrak’s letter Wednesday to Vice President Joseph R. Biden Jr. and House Speaker John A. Boehner, R-Ohio, that updating the railroad’s equipment and stations would require significantly higher levels of investment than Congress has been willing to provide.
“If we truly want to realize our vision of what rail can offer America, in terms of real mobility improvements and rational modal choices, policy decisions must be made and funding provided to match them,” Boardman said. “These are big decisions, and will require bold thinking, but they will deliver value for the money.”
“TCU is pleased to see Amtrak continue to look to the future and create a world class high speed rail network,” said TCU President Bob Scardelletti. “Amtrak will need dedicated long term funding to get this accomplished.”
Click here to read the full release from Amtrak.