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The National Railroad Passenger Corporation, Trade name Amtrak (; ), is the national Passenger train company of the United States. It operates intercity rail service in every contiguous U.S. state except for Wyoming and South Dakota as well as three Canadian provinces. Amtrak is a portmanteau of the words America and track.
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. The company's headquarters is located one block west of Union Station in Washington, D.C. Amtrak is headed by a Board of Directors, two of whom are the secretary of transportation and chief executive officer (CEO) of Amtrak, while the other eight members are nominated to serve a term of five years.
Amtrak's network includes over 500 stations along of track. It directly owns approximately of this track and operates an additional of track; the remaining mileage is over rail lines owned by other railroad companies. While most track speeds are limited to or less, several lines have been upgraded to support top speeds of , and parts of the Northeast Corridor support top speeds of .
In fiscal year 2024, Amtrak served 32.4 million passengers and had $2.5 billion in revenue, with more than 22,100 employees. Nearly 87,000 passengers ride more than 300 Amtrak trains daily. Nearly two-thirds of passengers come from the 10 largest metropolitan areas and 83% of passengers travel on routes shorter than .
Traffic surged during World War II, aided by troop movement and gasoline rationing. The railroad's market share surged to 74% in 1945, with a massive 94 billion passenger-miles. After the war, railroads rejuvenated their overworked and neglected passenger fleets with fast and luxurious streamliners. These new trains brought only temporary relief to the overall decline. Even as postwar travel exploded, passenger travel percentages of the overall market share fell to 46% by 1950, and then 32% by 1957. The railroads had lost money on passenger service since the Great Depression, but deficits reached $723 million in 1957. For many railroads, these losses threatened financial viability.
The causes of this decline were heavily debated. The National Highway System and , both funded by the government, competed directly with the railroads, which, unlike the airline, bus, and trucking companies, paid for their own infrastructure. American car culture was also on the rise in the post–World War II years. Progressive Era rate regulation limited the railroads' ability to turn a profit. Railroads also faced antiquated work rules and inflexible relationships with trade unions. To take one example, workers continued to receive a day's pay for workdays. Streamliners covered that in two hours.
Matters approached a crisis in the 1960s. Passenger service route-miles fell from in 1958 to in 1970, the last full year of private operation. The diversion of most United States Post Office Department mail from passenger trains to trucks, airplanes, and freight trains in late 1967 deprived those trains of badly needed revenue. In direct response, the Atchison, Topeka and Santa Fe Railway filed to discontinue 33 of its remaining 39 trains, ending almost all passenger service on one of the largest railroads in the country. The equipment the railroads had ordered after World War II was now 20 years old, worn out, and in need of replacement.
In October 1970, Congress passed, and President Richard Nixon signed into law (against the objections of most of his advisors), the Rail Passenger Service Act. Proponents of the bill, led by the National Association of Railroad Passengers (NARP), sought government funding to ensure the continuation of passenger trains. They conceived the National Railroad Passenger Corporation (NRPC), a quasi-public corporation that would be managed as a for-profit organization, but which would receive taxpayer funding and assume operation of intercity passenger trains – while many involved in drafting the bill did not believe the NRPC would actually be profitable, this was necessary in order for the White House and more conservative members of Congress to support the bill.
There were several key provisions:
Of the 26 railroads still offering intercity passenger service in 1970, only six declined to join the NRPC.
Nearly everyone involved expected the experiment to be short-lived. The Nixon administration and many Washington insiders viewed the NRPC as a politically expedient way for the President and Congress to give passenger trains a "last hurrah" as demanded by the public. They expected the NRPC to quietly disappear as public interest waned. After Fortune magazine exposed the manufactured mismanagement in 1974, Louis W. Menk, chairman of the Burlington Northern Railroad, remarked that the story was undermining the scheme to dismantle Amtrak. Proponents also hoped that government intervention would be brief and that Amtrak would soon be able to support itself. Neither view had proved to be correct; popular support allowed Amtrak to continue in operation longer than critics imagined, while financial results made passenger train service returning to private railroad operations infeasible.
The initial reaction to this heavily-cut-back proposed system from the public, the press, and congressmen was strongly negative. It made front-page headlines across the country and it was quickly leaked that the DOT had wanted a far larger system than the White House would approve. The ICC produced its own report on December 29, criticising the proposed draft and arguing for the inclusion of 15 additional routes, giving further ammunition to the congressmen who wanted an expanded system. Further wrangling between the DOT and the White House produced the final list of routes on January 28, 1971, adding 5 additional routes to the November 30 draft.
These required routes had only their endpoints specified; the selection of the actual routes to be taken between the endpoints was left to the NRPC, which had just three months to decide them before it was due to start service. Consultants from McKinsey & Company were hired to perform this task, and their results were publicly announced on March 22.
At the same time, the NRPC had hired Lippincott & Margulies to create a brand for it and replace its original working brand name of Railpax. On March 30, L&M's work was presented to the NRPC's board of incorporators, who unanimously agreed on the "headless arrow" logo and on the new brand name "Amtrak", a portmanteau of the words America and trak, the latter itself a sensational spelling of track. The name change was publicly announced less than two weeks before operations began.
Needing to operate only half the train routes that had operated previously, Amtrak would lease around 1,200 of the best passenger cars from the 3,000 that the private railroads owned. All were air-conditioned, and 90% were easy-to-maintain stainless steel. When Amtrak took over, passenger cars and locomotives initially retained the paint schemes and logos of their former owners which resulted in Amtrak's running trains with mismatched colors – the "Rainbow Era". In mid-1971, Amtrak began purchasing some of the equipment it had leased, including 286 EMD E and F unit diesel locomotives, 30 GG1 electric locomotives and 1,290 passenger cars. By 1975, the official Amtrak color scheme was painted on most Amtrak equipment and newly purchased locomotives and the rolling stock began appearing.
Amtrak inherited problems with train stations (most notably deferred maintenance) and redundant facilities from the competing railroads that once served the same communities. Chicago is a prime example; on the day prior to Amtrak's inception, intercity passenger trains used five different Chicago terminals: LaSalle, Dearborn Station, North Western Station, Central, and Union. The trains at LaSalle remained there, as their operator Rock Island could not afford to opt into Amtrak. Of all the trains serving Dearborn Station, Amtrak retained only a pair of Santa Fe trains, which relocated to Union Station beginning with the first Amtrak departures on May 1, 1971. Dearborn Station closed after the last pre-Amtrak trains on the Santa Fe arrived in Chicago on May 2. None of the intercity trains that had served North Western Station became part of the Amtrak system, and that terminal became commuter-only after May 1. The trains serving Central Station continued to use that station until an alternate routing was adopted in March 1972. In New York City, Amtrak had to maintain two stations (Penn and Grand Central) due to the lack of track connections to bring trains from upstate New York into Penn Station; a problem that was rectified once the Empire Connection was built in 1991. The Amtrak Standard Stations Program was launched in 1978 and proposed to build a standardized station design across the system with an aim to reduce costs, speed construction, and improve its corporate image." However, the cash-strapped railroad would ultimately build relatively few of these standard stations.
Amtrak soon had the opportunity to acquire rights-of-way. Following the bankruptcy of several northeastern railroads in the early 1970s, including Penn Central, which owned and operated the Northeast Corridor (NEC), Congress passed the Railroad Revitalization and Regulatory Reform Act of 1976.Railroad Revitalization and Regulatory Reform Act, , , . February 5, 1976. A large part of the legislation was directed to the creation of Conrail, but the law also enabled the transfer of the portions of the NEC not already owned by state authorities to Amtrak. Amtrak acquired the majority of the NEC on April 1, 1976. (The portion in Massachusetts is owned by the Commonwealth and managed by Amtrak. The route from New Haven to New Rochelle is owned by New York's Metropolitan Transportation Authority and the Connecticut Department of Transportation as the New Haven Line.) This mainline became Amtrak's "jewel" asset, and helped the railroad generate revenue. While the NEC ridership and revenues were higher than those of any other segment of the system, the cost of operating and maintaining the corridor proved to be overwhelming. As a result, Amtrak's federal subsidy was increased dramatically. In subsequent years, other short-route segments not needed for freight operations were transferred to Amtrak.
In its first decade, Amtrak fell far short of financial independence, a shortage that continues today, but it did find modest success rebuilding trade. Outside factors discouraged competing transport, such as fuel shortages which increased costs of automobile and airline travel, and strikes which disrupted airline operations. Investments in Amtrak's track, equipment and information also made Amtrak more relevant to America's transportation needs. Amtrak's ridership increased from 16.6 million in 1972 to 21 million in 1981.
In February 1978, Amtrak moved its headquarters to 400 North Capitol Street NW, Washington, D.C.
Building on mechanical developments in the 1970s, high-speed Washington–New York Metroliner Service was improved with new equipment and faster schedules. Travel time between New York and Washington, D.C., was reduced to under 3 hours due to system improvements and limited stop service. This improvement was cited as a reason that Amtrak grew its share of intercity trips between the cities along the corridor. Elsewhere in the country, demand for passenger rail service resulted in the creation of five new state-supported routes in California, Illinois, Missouri, Oregon and Pennsylvania, for a total of 15 state-supported routes.
Amtrak added two trains in 1983, the California Zephyr between Oakland and Chicago via Denver and revived the Auto Train, a unique service that carries both passengers and their vehicles. Amtrak advertised it as a great way to avoid traffic along the I-95 running between Lorton, Virginia, (near Washington, D.C.) and Sanford, Florida, (near Orlando) on the Silver Star alignment.
In 1980s and 1990s, stations in Baltimore, Chicago, and Washington, D.C., received major rehabilitation and the Empire Connection tunnel opened in 1991, allowing Amtrak to consolidate all New York services at Penn Station. Despite the improvements, Amtrak's ridership stagnated at roughly 20 million passengers per year, amid uncertain government aid from 1981 to about 2000.
In the early 1990s, Amtrak tested several different high-speed trains from Europe on the Northeast Corridor. An X 2000 train was leased from Sweden for test runs from October 1992 to January 1993, followed by revenue service between Washington, D.C., and New York City from February to May and August to September 1993. Siemens showed the ICE 1 train from Germany, organizing the ICE Train North America Tour which started to operate on the Northeast Corridor on July 3, 1993.
In 1993, Thomas Downs succeeded Claytor as Amtrak's fifth president. The stated goal remained "operational self-sufficiency". By this time, however, Amtrak had a large overhang of debt from years of underfunding. In the mid-1990s, Amtrak suffered through a serious cash crunch. Under Downs, Congress included a provision in the Taxpayer Relief Act of 1997 that resulted in Amtrak's receiving a $2.3 billion tax refund that resolved their cash crisis. However, Congress also instituted a "glide path" to financial self-sufficiency, excluding railroad retirement tax act payments.
George Warrington became the sixth president in 1998, with a mandate to make Amtrak financially self-sufficient. Under Warrington, the company tried to expand into express freight shipping, placing Amtrak in competition with the "host" freight railroads and the trucking industry.
On March 9, 1999, Amtrak unveiled its plan for the Acela Express, a high-speed train on the Northeast Corridor between Washington, D.C., and Boston. Several changes were made to the corridor to make it suitable for higher-speed electric trains. The Northend Electrification Project extended existing electrification from New Haven, Connecticut, to Boston to complete the overhead power supply along the route, and several grade crossings were improved or removed.
Joseph H. Boardman replaced Kummant as president and CEO in late 2008. In 2011, Amtrak announced its intention to improve and expand the high-speed rail corridor from Penn Station in NYC, under the Hudson River in new tunnels, and double-tracking the line to Newark, NJ, called the Gateway Project, initially estimated to cost $13.5 billion (equal to $ billion in ).
From May 2011 to May 2012, Amtrak celebrated its 40th anniversary with festivities across the country that started on National Train Day (May 7, 2011). A commemorative book entitled Amtrak: An American Story was published, a documentary was created, six locomotives were painted in Amtrak's four prior paint schemes, and an Exhibit Train toured the country visiting 45 communities and welcoming more than 85,000 visitors.
After years of almost revolving-door CEOs at Amtrak, in December 2013, Boardman was named "Railroader of the Year" by Railway Age magazine, which noted that with over five years in the job, he is the second-longest serving head of Amtrak since it was formed more than 40 years ago. On December 9, 2015, Boardman announced in a letter to employees that he would be leaving Amtrak in September 2016. He had advised the Amtrak Board of Directors of his decision the previous week. On August 19, 2016, the Amtrak Board of Directors named former Norfolk Southern Railway President & CEO Charles Moorman as Boardman's successor with an effective date of September 1, 2016. During his term, Moorman took no salary and said that he saw his role as one of a "transitional CEO" who would reorganize Amtrak before turning it over to new leadership.
On November 17, 2016, the Gateway Program Development Corporation (GDC) was formed for the purpose of overseeing and effectuating the rail infrastructure improvements known as the Gateway Program. GDC is a partnership of the States of New York and New Jersey and Amtrak. The Gateway Program includes the Hudson Tunnel Project, to build a new tunnel under the Hudson River and rehabilitate the existing century-old tunnel, and the Portal North Bridge, to replace a century-old moveable bridge with a modern structure that is less prone to failure. Later projects of the Gateway Program, including the expansion of track and platforms at Penn Station New York, construction of the Bergen Loop and other improvements will roughly double capacity for Amtrak and NJ Transit trains in the busiest, most complex section of the Northeast Corridor.
In June 2017, it was announced that former Delta and Northwest Airlines CEO Richard Anderson would become Amtrak's next President & CEO. Anderson began the job on July 12, assuming the title of President immediately and serving alongside Moorman as "co-CEOs" until the end of the year. On April 15, 2020, Atlas Air Chairman, President and CEO William Flynn was named Amtrak President and CEO. In addition to Atlas Air, Flynn has held senior roles at CSX Transportation, SeaLand and GeoLogistics Corp. Anderson would remain with Amtrak as a senior advisor until December 2020.
As Amtrak approached profitability in 2020, the company undertook planning to expand and create new intermediate-distance corridors across the country. Included were several new services in Ohio, Tennessee, Colorado, and Minnesota, among other states.
During the COVID-19 pandemic, Amtrak continued operating as an essential service. It started requiring face coverings the week of May 17, and limited sales to 50% of capacity. Most long-distance routes were reduced to three weekly round trips in October 2020.
In March 2021, following President Joe Biden's American Jobs Plan announcement, Amtrak CEO Bill Flynn outlined a proposal called Amtrak Connects US that would expand state-supported intercity corridors with an infusion of upfront capital assistance. This would expand service to cities including Las Vegas, Phoenix, Baton Rouge, Nashville, Chattanooga, Louisville, Columbus (Ohio), Wilmington (North Carolina), Cheyenne, Montgomery, Concord, and Scranton. Also in March 2021, Amtrak announced plans to return 12 of its long-distance routes to daily schedules later in the spring. Most of these routes were restored to daily service in late-May 2021. However, a resurgence of the virus caused by the Omicron variant caused Amtrak to modify and/or suspend many of these routes again from January to March 2022.
Stephen Gardner, a former Amtrak intern and longtime executive, became the company's CEO in January 2022. He resigned abruptly on March 19, 2025, amid reports that the Trump administration had pressured him to step down. Earlier that month, Trump advisor Elon Musk had expressed an intention to privatize Amtrak.
Service on the Northeast Corridor (NEC), between Boston, and Washington, D.C., as well as between Philadelphia and Harrisburg, is powered by ; for the rest of the system, diesel-electric locomotives are used. Routes vary widely in the frequency of service, from three-days-a-week trains on the Sunset Limited and the Cardinal, to several times per hour on the Northeast Corridor. For areas not served by trains, Amtrak Thruway routes provide guaranteed connections to trains via buses, vans, ferries and other modes.
The most popular and heavily used services are those running on the Northeast Corridor (NEC), including the Acela and Northeast Regional. The NEC runs between Boston and Washington, D.C. via New York City and Philadelphia. Some services continue into Virginia. The NEC services accounted for 4.4 million of Amtrak's 12.2 million passengers in fiscal year 2021. Outside the NEC the most popular services are located in California, including the Pacific Surfliner, Capitol Corridor, and San Joaquins, which are supplemented by an extensive network of connecting buses. Together, the California corridor trains accounted for a combined 2.35 million passengers in fiscal year 2021. Other popular routes include the Empire Service between New York City and Niagara Falls, via Albany and Buffalo, which carried 613.2 thousand passengers in fiscal year 2021, and the Keystone Service between New York City and Harrisburg via Philadelphia that carried 394.3 thousand passengers that same year. Four of the six busiest stations by boardings are on the NEC: New York Penn Station (first), Washington Union Station (second), Philadelphia 30th Street Station (third), and South Station (fifth). The other two are Chicago Union Station (fourth) and Los Angeles Union Station (sixth).
Outside the Northeast Corridor and stretches of track in Southern California and Michigan, most Amtrak trains run on tracks owned and operated by privately owned freight railroads. BNSF Railway is the largest host to Amtrak routes, with 6.3 million train-miles. Freight rail operators are required under federal law to give dispatching preference to Amtrak trains. Amtrak has accused freight railroads of violating or skirting these regulations, resulting in passenger trains having to wait for freight traffic to clear the track.
The railroads' dispatching practices were investigated in 2008, resulting in stricter laws about train priority. Subsequently, Amtrak's overall on-time performance went up from 74.7% in fiscal 2008 to 84.7% in 2009, with long-distance trains and others outside the NEC seeing the greatest benefit. The Missouri River Runner jumped from 11% to 95%, becoming one of Amtrak's best performers. The Texas Eagle went from 22.4% to 96.7%, and the California Zephyr, with a 5% on-time record in 2008, went up to 78.3%. This improved performance coincided with a general economic downturn, resulting in the lowest freight-rail traffic volumes since at least 1988, meaning less freight traffic to impede passenger traffic.
In 2018, Amtrak began issuing "report cards" to host railroads, grading each based on the railroad's impact to on-time performance. The first report card, issued in March 2018, includes one A (given to Canadian Pacific) and two Fs (given to Canadian National and Norfolk Southern). Amtrak's 2020 host report card gives Canadian Pacific and Canadian National an A, BNSF Railway and CSX a B, Union Pacific a C+, and Norfolk Southern a D−. Amtrak's 2023 host report card gives Canadian Pacific Kansas City an A, CSX and Canadian National a B+, BNSF Railway a B, Norfolk Southern a B-, and Union Pacific a C-.
Amtrak's median on-time performance between 2018 and 2023 was 74.5%, reaching a high of 80% in 2020. It was highest on the Northeast Corridor (81.3%). The vast majority of hours of delay, about 57.5% on average, were caused by the host railroad. Long-distance routes performed similarly to the total weighted on-time percentage.
In addition to these lines, Amtrak owns station and yard tracks in Chicago, Los Angeles, New Orleans, New York City, Oakland, Orlando, Portland, Oregon, Seattle, Philadelphia, and Washington, D.C. Amtrak leases station and yard tracks in Hialeah, near Miami, Florida, from the State of Florida.
Amtrak owns New York Penn Station, Chicago Union Station, Philadelphia 30th Street Station, Baltimore Penn Station and Providence Station. Through the Washington Terminal Company, in which it owns a 99.7 percent interest, it owns the rail infrastructure around Washington Union Station. It also holds a 99% interest in 30th Street Limited, a partnership responsible for redeveloping the area in and around Philadelphia's 30th Street Station. Amtrak also owns Passenger Railroad Insurance.
Three additional service lines manage Amtrak's additional revenue services, net profit from which is used to fund rail operations: Real Estate & Commercial manages property owned by Amtrak, Infrastructure Access/Reimbursable charges other railroads for access to Amtrak owned tracks and performs maintenance work that can be reimbursed by other railroads or state governments, and Ancillary provides other services including operating commuter trains under contract, establishing Amtrak Thruway connecting services, operating charter trains, and hauling private railcars.
Wi-Fi service is considered to be more reliable on routes running east of the Mississippi River and along the coastlines; service is less reliable on east–west routes such as Sunset Limited, Southwest Chief and Texas Eagle, as these contain rail segments passing through large sections of wilderness with sparse cell coverage.
Amtrak launched an e-ticketing system on the Downeaster in November 2011 and rolled it out nationwide on July 30, 2012. Amtrak officials said the system gives "more accurate knowledge in realtime of who is on the train which greatly improves the safety and security of passengers; en route reporting of onboard equipment problems to mechanical crews which may result in faster resolution of the issue; and more efficient financial reporting".
The Amtrak Express cargo service used to provide small-package and less-than-truckload shipping between most Amtrak stations that handle checked baggage (over 100 cities). Cargo traveled alongside checked luggage in baggage cars. However, the service was suspended in 2020. , there have been no plans to resume service.
Amtrak is popular among bicycle touring enthusiasts due to the ease of riding with a bike. In contrast to airlines, which require riders to dismantle their bicycles and place them in specialized bags, most Amtrak trains have onboard bike racks in either the coaches or checked baggage car. Bicycle reservations are required on most routes and cost up to $20.
Most Amtrak workers are legally classified as "railroad employees" and thus make contributions to the federal Railroad Retirement system. The contribution rate is determined on an industry-wide basis, rather than with reference to the employer for whom the employees work; while most freight railroads employ a large number of contract workers to reduce the amount owed, Amtrak is prohibited by law from contracting out many positions and thus contributes disproportionately more funding to the system. Some critics, such as the National Association of Railroad Passengers, argue that Amtrak is thereby "subsidizing" freight railroad pensions by as much as US$150 million/year.
In recent times, efforts at reforming passenger rail have addressed labor issues. In 1997 Congress released Amtrak from a prohibition on hiring contractors outside the corporation (and outside its unions); Amtrak Reform and Accountability Act of 1997. 105th Cong. (January 7, 1997) since that time, many of Amtrak's employees have been working without a contract. The most recent contract, signed in 1999, was mainly retroactive.
Because of the fragmentation of railroad unions, Amtrak workers are represented by 14 separate trade unions, with as many as 24 simultaneous contracts between them as of 2009, a situation which has made contract negotiations more difficult. Former Amtrak president Alexander Kummant followed a cooperative posture with Amtrak's unions, ruling out plans to privatize large parts of the company's workforce.
In 2005, Amtrak's carbon dioxide equivalent emissions per passenger were 0.411 lbs/mi (0.116 kg per km). table 1.1, figures from 2005. Cf. http://docs.wri.org/wri_co2comm_2002_commuting_protected.xls , sheet 8, cell C33 (figures from 2002). This amount is similar to that of a car with two people,respectively http://docs.wri.org/wri_co2comm_2002_commuting_protected.xls , sheet 8, cell C36 (figures from 2002); table 1.1, figures from 2007. about twice as high as the UK rail average (where more of the system is electrified), about four times the average US motorcoach, and about eight times a Finnish electric intercity train or fully loaded fifty-seat coach. It is, however, about two thirds of the raw CO2-equivalent emissions of a long-distance domestic flight.
Diesel trains cause additional regional air pollution, impacting the ecosystems around the sites of operation. More stops along train routes can lead to higher greenhouse gas emissions.
Amtrak rail facilities located in Delaware were cited as the state's largest source of polychlorinated biphenyl (PCB) contamination into the Delaware River, which build up in the tissue of animals and are human carcinogens.
In September 2021, the remnants of Hurricane Ida flooded the Amtrak Northeast Corridor running from Boston to Washington, D.C., and caused it to shut down for an entire day. In February 2023, heavy snowfall and debris on tracks caused major disruptions from delays to cancellations.
State governments have partially filled the breach left by reductions in federal aid. Several states have entered into operating partnerships with Amtrak, notably California, Pennsylvania, Illinois, Michigan, Oregon, Missouri, Washington, North Carolina, Oklahoma, Texas, Wisconsin, Vermont, Maine, and New York, as well as the Canadian province of British Columbia, which provides some of the resources for the operation of the Amtrak Cascades route.
With the dramatic rise in gasoline prices during 2007–08, Amtrak saw record ridership. Capping a steady five-year increase in ridership overall, regional lines saw 12% year-over-year growth in May 2008. In October 2007, the Senate passed S. 294, the Passenger Rail Improvement and Investment Act of 2007 (70–22), sponsored by Senators Frank Lautenberg and Trent Lott. Despite a veto threat by President Bush, a similar bill passed the House on June 11, 2008, with a veto-proof margin (311–104). The final bill, spurred on by the September 12 Metrolink collision in California and retitled Passenger Rail Investment and Improvement Act of 2008, was signed into law by President Bush on October 16, 2008. The bill appropriates $2.6 billion a year in Amtrak funding through 2013.
Amtrak has argued that it needs to increase capital program costs in 2013 in order to replace old train equipment because the multi-year maintenance costs for those trains exceed what it would cost to simply buy new equipment that would not need to be repaired for several years. However, despite an initial request for more than $2.1 billion in funding for the year, the company had to deal with a year-over-year cut in 2013 federal appropriations, dropping to under $1.4 billion for the first time in several years. Amtrak stated in 2010 that the backlog of needed repairs of the track it owns on the Northeast Corridor included over 200 bridges, most dating to the 19th century, tunnels under Baltimore dating to the American Civil War era and functionally obsolete Railroad switch which would cost $5.2 billion to repair (more than triple Amtrak's total annual budget). Amtrak's budget is allocated on only a yearly basis, and it has been argued by Joseph Vranich that this makes multi-year development programs and long-term fiscal planning difficult if not impossible.
In Fiscal Year 2011, the U.S. Congress granted Amtrak $563 million for operating and $922 million for capital programs.
The Rail Passenger Service Act of 1970, which established Amtrak, specifically states that, "The Corporation will not be an agency or establishment of the United States Government". Then common stock was issued in 1971 to railroads that contributed capital and equipment; these shares convey almost no benefits, but their holders declined a 2002 buy-out offer by Amtrak. There are currently 109.4 million shares of preferred stock, at a par value of $100 per share, all held by the US government. As of February 2015, there were 9.4 million shares of common stock, with a par value of $10 per share, held by American Premier Underwriters (53%), BNSF (35%), Canadian Pacific (7%) and Canadian National (5%). Amtrak Freedom of Information Act (FOIA) that list complete number of Amtrak issued Common and Preferred stock shares and shareholdersRetrieved on May 27, 2022
target="_blank" rel="nofollow"> Fini to saga of Amtrak's common stock Railway Age February 26, 2015
The Secretary may be represented at Board meetings by their designee.
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