Testimony

 
July 25, 2001

Amtrak's Financial Performance

Project ID: CC-2001-252
 
 
 

Summary

The IG testified before the House Transportation and Infrastructure Subcommittee on Railroads regarding Amtrak’s financial status, performance to date of the Acela high speed train set, and the proposed Amtrak bond bill. In his testimony, the IG stated that: 1) Amtrak’s financial performance has not met expectations and its ability to meet its self-sufficiency mandate is in serious jeopardy; 2) Amtrak’s efforts to achieve self-sufficiency will fail if additional capital is not forthcoming; 3) Amtrak will require substantial Federal appropriations, even after it achieves self-sufficiency, and 4) Costs of developing all 10 designated high-speed corridors far exceed funds proposed in the current bond bill.

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