President Joe Biden is promoting new cash for Amtrak
President Joe Biden — perhaps the nation’s biggest Amtrak fan — is set to promote new federal investments for trains on the heavily trafficked Northeast Corridor.
The Democratic president is headed to Bear, Delaware, on Monday to announce more than $16 billion in new funding that will go toward 25 passenger rail projects between Boston and Washington, the White House says. Bear is located about 12 miles (20 kilometers) from Biden’s home of Wilmington.
His remarks will be held at the Amtrak Bear Maintenance Shops, where trains are maintained and repaired. The investments, the White House says, will help trains run faster, cut delays and create union jobs.
From https://en.m.wikipedia.org/wiki/Amtrak :
So it seems like Amtrak is run as if it is a private company, but it was established by the government. Calling it “for-profit” is also rather generous, because it relies on that government funding, and even with that, doesn’t really have any profits to speak of.
It is basically government subsidy of intercity passenger rail in the US to keep it from dying.
The intent was for Amtrak to be a for profit company. The problem is that passenger rail was a money loser for a long time before the collapse of Penn Central.