Amtrak Executive Bonus Disclosure Act

Floor Speech

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Mr. ROUZER. Mr. Speaker, I rise in support of this bill, the Amtrak Executive Bonus Disclosure Act, which increases accountability and transparency at Amtrak by requiring public disclosure of taxpayer- funded bonuses given to its top executives.

Amtrak was created 55 years ago by Congress as a for-profit entity to relieve our Nation's vital freight railroads of their obligation under law to provide what had proved to be an unprofitable intercity passenger rail service.

Since then, Amtrak has done no better. They have failed to ever make a profit and struggle to provide adequate service.

Even with the post-pandemic improvements in ridership, staggering financial losses remain. In 2023, Amtrak lost more than $1.7 billion despite collecting $11 billion in taxpayer subsidies and almost $22 billion in advanced funding from the Infrastructure Investment and Jobs Act.

Amtrak's delays and customer service failures were front and center the day after Christmas just a month ago when the Northeast Corridor train didn't board any passengers at Washington's Union Station. Mr. Speaker, 100 customers were stranded during the busiest travel time of the year when operations should be the most efficient.

Amtrak is also hampered with project delays. Delayed projects lead to cost overruns and significant revenue losses. For example, its new Acela II train service for the Northeast Corridor is more than 3 years behind schedule with no firm date on when it will enter service. This delay has led to a $140 million loss in revenue according to a 2023 OIG report. Relying on government bailouts to make up for losses must end.

Despite this track record, no pun intended, the Amtrak board of directors awarded the company's 15 executives more than $9 million in bonuses during the last 2 years. Congress, Amtrak employees, and the public were shocked and outraged, and rightly so, to discover such generous and questionable awards paid largely by taxpayers.

The Transportation Workers Union, which represents 1,500 Amtrak service workers, said that these bonuses are an affront to every Amtrak worker and American taxpayers, which is why the TWU endorsed this bill during the previous Congress when it last passed the House.

While Amtrak has taken steps to be more transparent about their executives' bonuses, they only did so after a hearing before the Transportation and Infrastructure Committee.

Congressional oversight and influence should not be necessary for this information to be made public, but unfortunately, it is. It is why this bill has been brought to the floor today, to require Amtrak to publish its annual executive bonus awards on its website, providing passengers, employees, and taxpayers with transparency regarding how their tax dollars are being spent.

Mr. Speaker, I urge support of this legislation.

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