Intercity Passenger Rail: Amtrak Will Continue to Have Difficulty Controlling Its Costs and Meeting Capital Needs
Abstract
Since its inception in 1971, the National Railroad Passenger Corporation (Amtrak) has received over $23 billion in federal subsidies for operating and capital expenses. Over the last 3 years, Amtrak has received over $3.6 billion, including about $2.2 billion in 1998 and 1999 from the Taxpayer Relief Act of 1997, that it could use for capital improvements, among other things. In December 1994, at the direction of the administration, Amtrak established the goal of eliminating its need for federal operating subsidies by 2002 (called "operational selfsufflciency"). To achieve this goal, Amtrak has developed and implemented a series of strategic business plans designed to increase revenues and control costs. However, despite these plans, Amtrak's losses have remained high: In 1999, its net loss-revenues minus expenses-was about $900 million.
Document Details
- Document Type
- Technical Report
- Publication Date
- May 01, 2000
- Accession Number
- ADA378467
Entities
Organizations
- United States Government Accountability Office