Intercity passenger rail : Amtrak's financial crisis threatens continued viability : statement of Phyllis F. Scheinberg

Details

• Creators:
  Scheinberg, Phyllis F.
• Subject/TRT Terms:
  • Intercity transportation
  • Passenger cars
  • Government funding
  • Subsidies
  • Financial analysis
  • Financial responsibility
  • Railroads
  • Federal aid to transportation
  • Passenger traffic
  • Appropriations and expenditures
• Publication/ Report Number:
  GAO/T-RCED-97-147
• Resource Type:
  Research Paper
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. General Accounting Office
• Abstract:
  Amtrak is still in a financial crisis despite the fact that its financial ; performance (as measured by net losses)2 has improved over the last 2 ; years. At the end of fiscal year 1994, Amtrak’s net loss was about $1.1 ; billion (in 1996 dollars). This loss was $873 million if the one-time charge ; of $255 million—taken in fiscal year 1994 for accounting changes, ; restructuring costs, and other items—is excluded.3 By the end of fiscal ; year 1996, this loss had declined to about $764 million. However, the ; relative gap between total revenues and expenses has not significantly ; closed, and passenger revenues (adjusted for inflation)—which Amtrak ; has been relying on to help close the gap—have generally declined over ; the past several years (see apps. II and III).
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• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/16113/dot_16113_DS1.pdf
• File Type:
  [PDF - 165.21 KB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:25fba948af31a72da140988d8b87b68e0340a00dfdf2e000c342ee4ef551a51b6584a8a10482adb21f614e13ce3049d24f10438b0d8634b1777c300d36517414