Rail

Amtrak approved for $1.2B subsidy

Posted on November 17, 2003

Congressional negotiators approved $1.2 billion in subsidies for Amtrak, close to what railroad officials say they need to keep trains running and maintenance projects on track. "This number will allow us to continue to operate the national system. However, we will have to assess the impact of this funding level on our current budget over the next month or so," Amtrak's president, David Gunn, said in a statement. Congressional negotiators late Wednesday evening approved $1.2 billion for the rail service, $300 million more than the House of Representatives and the Bush administration supported, but $600 million less than what Amtrak said it needed, reported the Associated Press. Gunn said the $900 million pushed by the House and the Transportation Department would have forced the railroad to begin shutting down. The subsidy amounts of $760 million for operating expenses and $465 million for capital projects will be paid out in a series of grants.

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