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Rail News Home Amtrak

2/11/2004



Rail News: Amtrak

Amtrak requests $1.8 billion in FY05


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On Feb. 10, Amtrak issued a $1.8 billion fiscal-year 2005 grant request to Congress.

The amount would fund $791 million in capital projects, provide $570 million for operations and repay a $100 million federal loan the national passenger railroad obtained in 2002. The balance would be used for debt service and working capital.

The request is about $300 million more than Amtrak’s FY04 funding. In addition to a $1.2 billion appropriation — which included the $100 million loan deferment — the railroad is using $150 million in funds that carried over from FY03.

"[The funds] will be adequate for this year, but we will need a full appropriation in FY05 if we are to continue stabilizing the railroad according to our strategic plan, and eventually return our plant and equipment to a state of good repair," said Amtrak President David Gunn in a prepared statement.

The Bush Administration has proposed $900 million for Amtrak in FY05. However, the Administration would support an appropriation up to $1.4 billion if significant reforms included in the Passenger Rail Investment Reform Act were implemented, U.S. Department of Transportation officials said.

"While Amtrak continues to make operational and managerial progress under the basic financial controls requested last year by the Administration and Congress, the Administration believes that increased federal funding for Amtrak cannot be justified without significant reform," officials said.