Posts Tagged ‘emergency Amtrak aid’

Amtrak to Get $1B in Emergency Pandemic Aid

April 14, 2020

The U.S. Department of Transportation said late last week that it will be conveying $1 billion to Amtrak that was appropriated as part of the Coronavirus Aid, Relief, and Economic Security Act.

The funding was approved by Congress after the passenger carrier reported that it was expected to lose that amount of money due to a 90 percent plunge in bookings and a wave of cancellations due to the COVID-19 pandemic.

In a news release, DOT said the emergency aid will help Amtrak maintain service when the economy recovers.

DOT said the CARES funding is intended to offset the loss of ticket revenue, enable the carrier to continue to pay its employees, buy fuel for its operations and construction materials for its projects.

The CARES Act funding will grant Amtrak $492 million for the Northeast Corridor and $526 million for its national network.

At $239 million of the funding will be used in lieu of any increase in states payments for Amtrak corridor service.