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Some news coming from Washington. The House has released its proposed 2024 budget and here are some things that we think are important for you to know. The FY2024 budget has Amtrak’s yearly appropriation being reduced from $2.4 billion to $875 million. This is a total reduction of 64%.
When pertaining to the Southeast, the story is a little bit less abysmal. The majority of southeastern routes fall into the “National Network'' The appropriation for this section has gone from $1.19 billion in 2023 to $776 million in 2024. This would constitute a 34% reduction. The bulk of the cuts will be seen along the Northeast Corridor, which will see a 92% reduction. We need to note that a lot of services, particularly in #Virginia originate along the Northeast Corridor and are likely to be affected.
These cuts will likely affect the day to day services along many of Amtrak's routes according to Amtrak. This could include staffing and equipment maintenance which will lead to reduced frequency, particularly along the #NEC and their connecting services. The cuts will also affect many regular state-of-good-repair and modernization projects.
It is important to note that this is just a proposal as of now. The budget still has to be voted on by the full House and the Senate before it even gets to the president's desk. There is a lot of time before the final text will be published. Final passage of the budget is required to happen by early September.
If you have any questions about the legislation feel free to message us or call your representative.