Amtrak lays out profitability plan as part of federal funding request

Amtrak last week released its annual "Legislative Report and Fiscal Year 2026 Legislative Grant Request," which includes a detailed plan for becoming “operationally profitable” by FY2028, according to an analysis by the Rail Passengers Association (RPA).

The request echoed the Trump administration's presidential budget request while highlighting record ridership in FY2024, which ended Sept. 30, 2024. Last year, Amtrak carried 32.8 million intercity passengers, surpassing pre-COVID levels, and generated $3.6 billion in revenue, with ticket sales reaching nearly $2.5 billion.

Also last year, Amtrak invested $4.5 billion in infrastructure improvements, most of which was funded by the Infrastructure Investment and Jobs Act of 2021. The investments were made to modernize train equipment and upgrade stations, including accessibility enhancements under the Americans with Disabilities Act.

The Trump administration's U.S. Department of Transportation budget proposal calls for $2.43 billion for Amtrak operations, about the same levels of funding as in FY25 and FY24, according to RPA.

Amtrak intends to achieve operational profitability in FY2028 by subdividing its operating losses into two categories: passenger train operations and infrastructure/construction activities, according to RPA.

Essentially, Amtrak seems to be saying that it will cover the above-the-rail costs — such as payroll for onboard and maintenance of way employees, fuel and energy, day-to-day maintenance, and provision of food and beverage — through revenue. And it will separate the cost of administering its major capital program — such as administrative costs associated with major projects like the Hudson River Tunnels, RPA officials said. 

"Rail Passengers has made it clear we oppose pennywise, pound-foolish decisions to chase 'profitability' — a goal not required in any law passed by Congress, during a period of record taxpayer subsidies to the federal interstate highway system," they added.