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(Source: Railway Age, March 5, 2013)

NEW YORK — Amtrak President and CEO Joe Boardman, addressing a Congressional committee Tuesday, said Amtrak is leveraging record ridership to reduce dependence on federal operating subsidies.

Boardman, addressing the House Transportation & Infrastructure Committee, said that in fiscal year 2012, ending Sept. 30, 2012, the federal government covered just 12% of Amtrak’s operating costs, while Amtrak generated 88% with ticket sales and other revenue.

Full story: Railway Age