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The Partnership Program is intended to improve intercity passenger rail performance by funding capital projects to repair, replace, or rehabilitate publicly owned or controlled railroad assets, thereby bringing them into a state of good repair.
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The discussion featured transit professionals, academic researchers, and transportation consultants, sharing not only their perspectives on post pandemic local affects on agencies, but the overall shifts underway that each stakeholder needs to understand.
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The budget does not include a fare increase for FY 2021.
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The report, “Public Equity to Match Private Investment in Infrastructure,” explores the details of whether private-sector funding could bridge the financial gap to fund these projects.
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Most operators have had nearly zero revenue coming in, and no help from Congress while almost every other form of passenger transportation receiving $91 Billion in the CARES Act.
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Although COVID-19 has certainly presented the transit industry with significant challenges, the timing of introducing new initiatives might actually be advantageous, tempering unrealistic expectations for success.
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Regardless of electoral outcome, some trends that have been accelerating for years will continue well into 2021 and beyond.
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The company’s FY 2021 ridership and revenue are forecasted to improve to about 40% of pre-COVID levels, which is less than anticipated.
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The Safety Research and Demonstration Program is part of a larger safety research effort at the U.S. Department of Transportation that provides technical and financial support for transit agencies to pursue innovative approaches to eliminate or mitigate safety hazards.
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Funding will go toward major investments in railcars, locomotives, bridges, and stations.
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