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- W236541072 abstract "Amtrak took over operation of long-distance rail passenger service in the United States on May 1, 1971. In more than 27 years since Amtrak's creation, the debate over Amtrak has repeatedly revisited the same issues: (1) Lack of a dedicated funding source; (2) Inadequate capital investment; (3) Failure to exploit many obvious markets for passenger service; (4) Unreliable trains and poor service quality; and (5) High cost relative to the service levels provided. The debate over Amtrak has been one of the longest-running shows in Washington politics, and has proved seemingly incapable of resolution. Starting with Richard Nixon, every President has proposed to zero out Amtrak's operating subsidy; none has succeeded in doing so. A total of more than $21 billion has been authorized for Amtrak's operating and capital budgets over the past 27 years, yet Amtrak remains starved of capital investments and on the edge of bankruptcy. There are indications that the political will (or lack of will) that has sustained Amtrak for more than two decades may be eroding. In 1995, under pressure from both the Congress and the President, Amtrak re-examined its route structure and made the first significant cuts in its operation since 1979. Following the recommendations of a consultant, the route structure and train frequencies were both realigned in an attempt to cut operating costs and increase equipment utilization without a significant loss of ridership. At the same time, Amtrak's president announced his commitment to balancing Amtrak's operating budget. In 1997, Congress made this an official goal, mandating a glide path to self-sufficiency by the start of fiscal 2002." @default.
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- W236541072 date "1998-01-01" @default.
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- W236541072 title "AMTRAK, THE NATIONAL RAILROAD PASSENGER CORPORATION: CURRENT PERFORMANCE AND FUTURE PROSPECTS" @default.
- W236541072 doi "https://doi.org/10.22004/ag.econ.311959" @default.
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