(Bloomberg News circulated the following story by Angela Greiling Keane on April 29, 2010.)
WASHINGTON, D.C. — Amtrak, the U.S. long-distance passenger railroad, may face worse service and mounting mechanical woes unless it begins replacing its aging fleet next year, Chief Executive Officer Joseph Boardman said.
Amtrak, which could compete with private operators under President Barack Obama’s high-speed rail plan, is asking Congress for $2.5 billion for the 2011 fiscal year, including $446 million to buy rail cars and locomotives.
“If we continue to delay, we risk a significant worsening of the mechanical problems and failures that degrade our service quality and increase the already considerable maintenance expenses associated with the maintenance and repair of a fleet far past its prime,” Boardman said today in testimony prepared for a Senate Appropriations Committee panel hearing.
Boardman requested funding two days after Obama’s debt commission held its first meeting on reducing the federal deficit. Moody’s Investors Service has said it will consider cutting the government’s bond rating if the outlook doesn’t improve.
“We owe it to future generations to not burden them with debt,” said Senator Patty Murray, the Washington Democrat who is chairman of the appropriations panel overseeing transportation spending. “But we also owe it to them to continue making the investments we know will strengthen our economy and make our country more competitive long-term.”