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Amtrak's Financial Condition

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The Inspector General testified regarding Amtrak’s financial situation before the Senate Transportation Appropriations Subcommittee. The IG discussed Amtrak’s unexpected loss of access to its short-term credit facility; its loan guarantee application through the Railroad Rehabilitation and Improvement Financing Program; and its need for long-term capital investment to sustain a national, intercity passenger rail system. FRA Administrator Rutter and Assistant Secretary for Budget and Programs McLean also testified.