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Intercity passenger rail : Amtrak's progress in improving its financial condition has been mixed
  • Published Date:
    1999-07-01
  • Language:
    English
Filetype[PDF-150.00 KB]


Details:
  • Publication/ Report Number:
    GAO/RCED-99-181
  • Resource Type:
  • Geographical Coverage:
  • TRIS Online Accession Number:
    770675
  • NTL Classification:
    NTL-RAIL TRANSPORTATION-RAIL TRANSPORTATION ; NTL-RAIL TRANSPORTATION-High Speed Ground Transportation ; NTL-RAIL TRANSPORTATION-Rail Laws and Regulations ; NTL-RAIL TRANSPORTATION-Rail Planning and Policy
  • Format:
  • Abstract:
    Since its creation in 1971, Amtrak has accumulated massive financial losses, with recent losses averaging more than $800 million per year. To help Amtrak sustain operations and make needed capital investments, the federal government has provided Amtrak nearly $23 billion in financial assistance since 1971. This report discusses (1) Amtrak's overall financial performance in fiscal year 1998, (2) the prospects for Amtrak to meet its financial goals for operating self-sufficiency outlined in its most recent strategic business plan, and (3) the extent to which current and anticipated federal funding and recently enacted legislative reforms aimed at helping Amtrak control its costs are likely to help improve its financial condition. Basically, it was found that Amtrak's overall losses increased in fiscal year 1998 after several years of improvement.

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