GOP schemes to privatize Amtrak

Investors could take stake in Amtrak under proposal
By John Crawley – Wed Jun 15, 11:40 am ET

WASHINGTON (Reuters) – Legislation to be proposed on Wednesday would open ownership of Amtrak’s Northeast operations to private investment as a catalyst for developing high-speed service on the heavily used route.

Amtrak, a for-profit federal corporation, is the only long-haul passenger rail service in the United States, and for years a political hot potato over billions of dollars in U.S. government subsidies and losses.

U.S. Representative John Mica, chairman of the House of Representatives Transportation Committee, is promoting a bill that would transfer ownership of Amtrak’s Northeast Corridor crown jewel to the Transportation Department.

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