Amtrak: Enron Of The Public Sector

Wendell Cox, a member of the Amtrak reform council, offers his perspective on Amtrak restructuring.

"If there is an Enron of the public sector, it is Amtrak. Created to be a profitable company in 1971, it has received $44 billion in federal tax subsidies. Congress was so concerned about its deteriorating financial performance that it enacted the Amtrak Reform and Accountability Act (ARAA) in 1997. Under this act, Amtrak was to wean itself off operating subsidies, and was provided with a new "reform" board of directors to do the job."

Thanks to Transport Policy Listserv

Full Story: Derailed

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