The Railroad Retirement Board has provided an update as Congress considers RRB’s funding levels for fiscal year 2025. In July, a House subcommittee proposed a catastrophic $26 million budget cut for RRB. In mid-August, the Senate Committee on Appropriations approved a FY 2025 funding level of $129 million, a 0.78 percent increase from FY 2023.
While this is a step in the right direction, the $129 million is still $5 million less than the President’s request, and $43.3 million less than RRB’s request.
In an August 13 press release, RRB reported: “With a $129 million budget, the RRB will be forced to continue its existing hiring freeze and operational cutbacks, initiated as a result of the agency’s FY 2024 budget reduction, while continuing to lose decades of institutional knowledge through retirements. Further, the RRB will be unable to move forward with its multi-year Information Technology (IT) modernization project, resulting in continued dependence on antiquated systems and inefficient processes and a further deterioration of service to the nation’s railroaders.”
The BLET will continue to monitor this situation in Congress, and will advise members when further updates are available. A copy of RRB’s August 13 press release is available here.