Source: Ludwig von Mises Institute
by JD Wong
“Amtrak ignored profits under Democrats but now claims it will be profitable to win GOP votes. Despite reporting a $705.2 million loss for FY2024, this deceitful number excludes: 1. $966.2 million in depreciation; 2. $447.3 million in ‘Project Related Expenses;’ 3. $314.1 million in state subsidies; 4. $26.9 million in Office of Inspector General funding. With its real costs factored in, the notion that Amtrak can ever turn a profit is a pipe dream. In fact, Amtrak is demanding greater subsidies than ever before. In 2021, Congress allocated $66 billion for passenger rail. Yet, Amtrak’s losses rose from $1.12 billion in FY2019 to $2.12 billion by FY2024. Instead of cutting unprofitable routes, Amtrak blames long-distance routes. Meanwhile, state-supported routes under 750 miles are doing even worse.” (07/17/25)
https://mises.org/mises-wire/subsidies-amtrak-and-siemens-pathway-cronyism-few