Rail

Amtrak CEO: System funded 88% of operating costs

Posted on March 6, 2013

Amtrak President/CEO Joe Boardman told a Congressional committee that the intercity passenger train service is leveraging record ridership to reduce dependence on federal operating subsidies. He announced that in FY 2012, the federal government paid just 12% of Amtrak’s operating costs while Amtrak covered 88% with ticket sales and other revenue.

Boardman explained that while the railroad has taken actions to chip away at operating costs and increase revenue, a vital component of its success has been the federal government’s willingness to invest in the Amtrak national network. Federal capital investment helps to reduce operating costs, supports the existing system, funds solutions to reduce future costs, and provides the infrastructure and equipment to sustain ridership and revenue growth.

“Previous federal capital investment levels have sufficed to keep the system going, but they are not going to be adequate in the future,” Boardman stressed. “If we are to realize rail’s potential, we will need much higher levels of federal capital funding.”

He added that the Amtrak long distance trains are an important part of a larger national network connecting rural communities to larger cities and major urban areas. They serve passengers with disabilities, the elderly and rural populations that are losing scheduled intercity air and bus service.

View comments or post a comment on this story. (0 Comments)

More News

U.S. DOT makes $199M available for PTC implementation

The grants, which will be selected by the FRA and awarded and administered by the FTA, will help commuter railroads implement PTC, which prevents accidents and saves lives.

Hyperloop Tech. partners with Deutsche Bahn to create 'Innovation Train'

The project, which starts next week, will utilize Hyperloop Transportation Technologies crowdsourcing and community collaboration, while implementations will be financed by Deutsche Bahn.

MBTA faces federal complaint for cancelling late-night service

A group argues that the flawed data suggested the move would not have an overly burdensome effect on low-income and minority riders and that it should have taken steps to curb those impacts before ending the service in March.

Man struck dead on train tracks in Buffalo, N.Y.

During the investigation, it was determined that the man was laying on his back in the middle of the inbound side of a track on the south side, when a northbound train came down the track because the system was running on a single track.

Amtrak to launch new magazine in effort to rebrand

Will emphasize beautiful travel photography and long-form journalism to cast itself as an upscale brand and replace its current magazine, “Arrive,” which is more focused on celebrities, what’s-on content and regional destinations.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close