Intercity Passenger Rail: Amtrak Will Continue to Have Difficulty Controlling Its Costs and Meeting Capital Needs
Since its inception in 1971, Amtrak has received over $23 billion in Fed. subsidies for operating capital expenses. Over the last 3 yrs., Amtrak has received over $3.6 billion, including about $2.2 billion in 1998 and 1999 that it could use for capital improvements, etc. This report discusses: changes since 1995 in Amtrak's operating costs, including labor costs, payments to freight railroads to access their track, and int. on commercial debt; the projected changes over the next 5 years; and Amtrak's plans to address these costs; Amtrak's short- and long-term capital invest. requirements; and the availability of Fed. and non-Fed. funds for Amtrak's capital invest. Charts and tables.
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According to Amtrak Acela Express addition agreements Amfleet Amtrak expects Amtrak Faces Short Amtrak's business plans Amtrak's data Amtrak's Interest Expenses Amtrak's Northeast Corridor Amtrak's Operating Costs Amtrak's payments Amtrak's total operating analysis of Amtrak's capital investment needs capital investment requirements Capital Plan Present Chief Mechanical Officer commercial debt cost growth Costs Have Increased discussions with Amtrak express program federal capital funds federal capital grants Federal Railroad Administration Future Capital Investments Future Increases GAO's analysis high-speed rail program high-speed rail service identified Increased Since 1995 Increases Will Necessitate infrastructure Intercity Passenger Rail Jersey Transit labor productivity Long-Term Capital Investment mail and express market-based network analysis measures of labor million nominal dollars multiyear capital plan Necessitate Revenue Growth officials and reports passenger cars Pennsylvania Station percent of Amtrak's Potential Funding Shortfall repair Revenue Growth Amtrak's Revenue Growth Figure short-term capital investment strategic business units Surface Transportation Board track Transportation tunnels York City
Page 15 - As agreed with your office, unless you publicly announce its contents earlier, we plan no further distribution of this report until 30 days after the date of this letter. At that time, we will send copies of this report to congressional committees with responsibilities for the activities discussed in this report; George D.
Page 8 - ... •''Amtrak participates in the railroad retirement system, under which each participating railroad pays a portion of the total retirement and benefit costs of the industry for employees.
Page 6 - Amtrak's operating costs were, in total, about $150 million (in nominal dollars) more than planned. Amtrak has no measures of labor productivity for its lines of business (eg, intercity passenger service, commuter service) that could help it better manage its labor costs.
Page 9 - Amtrak, the southern end of the Northeast Corridor — between Washington, DC, and New York City — is the most heavily used passenger rail link in the United States.
Page 5 - in December 1994, at the direction of the administration, Amtrak established the goal of eliminating its need for federal operating assistance by December 2002 (called "operational self-sufficiency").
Page 42 - Corridor. 2Amtrak has not comprehensively identified its short- and long-term capital investment needs. Therefore, to identify these needs, we asked Amtrak managers to identify capital investments they believed are needed to maintain current service levels and improve Amtrak's service and reviewed Amtrak and non-Amtrak reports addressing capital investment needs. As a result, the...
Page 8 - The Rail Passenger Service Act of 1970 created Amtrak to provide intercity passenger rail service.
Page 5 - ... operational self-sufficiency"). 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.