White House wants to push Amtrak into bankruptcy
There have been periodic reports of Amtrak’s demise, but the Bush administration in its 2006 federal budget is proposing to end the rail line by choking off all its subsidies.
The reaction of Amtrak’s president and CEO David Gunn:
“Obviously, the proposal is irresponsible and a surprising disappointment. It doesn’t acknowledge all the hard work…done over the past two years to run a righter and better ship.” He said costs are more under control than ever.
The Bush budget proposal says that without subsidies Amtrak would have to go for Chapter 11 protection.
Amtrak lost more than $1 billion last year, according to a report by the US Transportation Department.
The Bush administration for four years has advocated breaking up Amtrak and selling off its routes to private rail operators.
But Mr Gunn pointed out that Amtrak has been threatened before but always has emerged with funding from the US Congress.
Report by David Wilkening
David
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