Rail

Amtrak told to plan liquidation

Posted on November 9, 2001

A federal panel declared today that Amtrak will not meet a congressional deadline for self-sufficiency, which forces the railway to draw up plans for its own liquidation. The Amtrak Reform Council 6-5 vote does not mean Amtrak will close. Congress will review Amtrak's liquidation plan and create a proposal for a restructured national passenger rail system. Congress will make the final decision on the future of Amtrak and is considering what role the railway will have in U.S. high-speed rail development. The Amtrak Reform Council was created by Congress in 1997 to review Amtrak's finances and to judge whether the national passenger service was financially viable. Amtrak has made progress toward self-sufficiency but still won't meet the Dec.2, 2002, deadline, said the council.

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