The National Railroad Passenger Corporation (also known as Amtrak) has been in a shaky financial condition ever since it was created by the federal government more than 30 years ago. Although Amtrak was established as a private, for-profit company, it has needed -and received-federal subsidies every year since it began providing service in 1971. Those subsidies totaled over $1 billion for 2003. However, according to Amtrak executives and independent analysts, that amount is insufficient for the railroad to sustain its current service safely and reliably over the long run. Amtrak's authorization expired in 2002. In considering legislation to reauthorize federal funding of the railroad, the Congress will again face the issue-as it has throughout Amtrak's history-of what the goal should be for an intercity passenger rail program. Should service be operated only where it can make a profit (or at least cover operating expenses). Or should the federal government also commit to subsidizing money-losing trains to meet a perceived need for public transportation. Given that some service is unlikely ever to be able to cover its operating costs, are there other organizational or institutional arrangements that could offer service at a lower cost to taxpayers. This Congressional Budget Office (CBO) study-prepared at the request of the Senate Budget Committee-reviews past policies toward Amtrak and the fundamental economics of passenger rail service. The review suggests that there are only limited conditions under which passenger rail service in the United States could be economically viable without subsidies. This study also explores the implications of four options for future federal support of passenger rail, ranging from eliminating federal subsidies to funding a massive expansion of rail service. In keeping with CBO's mandate to provide objective, impartial analysis, the study makes no recommendations.
Past and Future of U.S. Passenger Rail Service
2003
58 pages
Report
Keine Angabe
Englisch
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