ALTERNATIVES FOR ELIMINATING AMTRAK'S DEBT TO THE GOVERNMENT

Originally the Government only guaranteed funds to help Amtrak revitalize its rail passenger service. These guarantees became direct Federal loans outside the budgetary control of the Congress and were never recorded in the Federal budget. Any approach to eliminating the debt should fully disclose the transaction in budget totals and should be subject to congressional budgetary control. After analyzing several alternatives, GAO recommends that the Congress retire the loans with a one-time appropriation of $850 million. A condition of retirement should be the continued protection of the Government's collateral interest in the loans.

Media Info

  • Pagination: 55 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00318023
  • Record Type: Publication
  • Source Agency: National Technical Information Service
  • Report/Paper Numbers: PAD-80-45
  • Files: TRIS
  • Created Date: Jul 22 1980 12:00AM