The Obama Administration released its budget request for Fiscal Year 2014 today, and the President has once again put forth a bold plan for transforming and expanding train service in the United States, with $40 billion in passenger rail investment over the next five years.
The Administration’s budget allocates $6.6 billion to the Federal Rail Administration for fiscal 2014, with increasing amounts each subsequent year through 2019, then decreasing amounts to 2023. The request will be a boost for Amtrak, coming a day before the House Committee on Transportation holds a hearing on the railroad’s FY 2014 budget. The hearing, Amtrak’s Fiscal Year 2014 Budget: The Starting Point for Reauthorization [which will be streamed live], will address Amtrak’s funding needs, as well as the coming rail reauthorization (the current law will expire at the end of this September). Amtrak announced yesterday it had set a new ridership record during the first half of this fiscal year, and will be looking to translate its steady increase in popularity into an increase its funding for badly needed equipment purchases and infrastructure upgrades.