Amtrak, the National Railroad Passenger Corp., authorized to operate virtually all intercity passenger railroad routes in the United States. Amtrak was created by Congress in 1970 in response to more than two decades of continuous operating deficits by privately run passenger railroads; over 100 of the nation's 500 passenger railroad lines at the time had filed discontinuation-of-service petitions with the Interstate Commerce Commission Interstate Commerce Commission (ICC), former independent agency of the U.S. government, established in 1887; it was charged with regulating the economics and services of specified carriers engaged in transportation between states.
..... Click the link for more information. . Given an initial funding of $40 million and $100 million in federal loan guarantees, Amtrak was designed to be a profit-making, quasipublic enterprise. Its board of directors includes three representatives of labor states and business appointed by the president, two representing commuter authorities, and two representing stockholders of the corporation's preferred stock. Amtrak began operation in 1971, reducing the number of intercity passenger rail routes by one half, retaining service mainly in areas of high density travel. Amtrak now runs about 265 trains per day to 500 stations over 22,000 route miles, and carries more than 23 million passengers a year, mainly in the Northeast and on the West Coast. It owns 730 miles, mostly in the Northeast corridor, while contracting with private railroads to run in the rest of the nation. In 1999 it began testing high-speed trains for service in the Northeast.

Amtrak

formally National Railroad Passenger Corp.

Federally supported corporation that operates nearly all intercity passenger trains in the U.S. It was established by Congress in 1970 in the face of private railroads' heavy financial losses. Routes were cut back severely, with service maintained only in highly populated areas and between the largest cities. Amtrak pays the railroads to run passenger trains and compensates them for the use of tracks and terminals. Amtrak bears all administrative costs and manages scheduling, route planning, and ticket sales. Despite income from tickets and mail-carrying services, Amtrak requires federal support to cover its operating costs. See also Conrail; Railway Express Agency.

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Amtrak (redirected from National Passenger Rail Corporation)

Amtrak

Amtrak
(redirected from National Passenger Rail Corporation)