White House announces $16.4 billion in new funding for 25 passenger rail projects on Amtrak’s Northeast Corridor
White House announces $16.4 billion in new funding for 25 passenger rail projects on Amtrak’s Northeast Corridor
$16.4 Billion from Bipartisan Infrastructure Law to Repair and Replace Critical Rail Infrastructure Along Northeast Corridor to Provide Faster and More Reliable Passenger Rail Experience, Create More than One Hundred Thousand Construction Jobs Bidenomics and President Biden’s Investing in America ag...
cross-posted from: https://sh.itjust.works/post/8638019
You're viewing a single thread.
Amtrak is a private company, right?
Founded in 1971 as a quasi-public corporation to operate many U.S. passenger rail routes, Amtrak receives a combination of state and federal subsidies but is managed as a for-profit organization.
For-profit is the key term. Have you seen the prices?
Not disagreeing, but I want to add more context. High prices do not necessarily mean Amtrak is being greedy. As a quasi-public entity they are forced to keep open unprofitable routes and pass that cost on to the consumer. Over a third of their revenue comes from the Northeast Corridor alone, despite those railways being private and charging Amtrak rent to use them. They are stuck in a lose-lose situation unless something changes via government intervention.
Personally, one of my dream vacations is to take an Amtrak sleeper car across the nation. I just don’t see how that is remotely justifiable given the current prices.