Page "Amtrak" Paragraph 3

Although the Rail Passenger Service Act of 1970, which established Amtrak, specifically states that " The Corporation will not be an agency or establishment of the United States Government ," the federal government ( through the United States Department of Transportation ) does own all issued and outstanding preferred stock in the company.

Common stock was issued in 1971 to railroads that contributed capital and equipment ; these shares convey almost no benefits but their current holders declined a 2002 buy-out offer by Amtrak.

Amtrak also receives annual appropriations from the federal government to supplement operating and capital programs.

In Fiscal Year 2011, the U. S. Congress granted Amtrak $ 563 million for operating and $ 922 million for capital programs.

Amtrak points out that in 2010, its farebox recovery ( percentage of operating costs covered by revenues generated by passenger fares ) was 79 %, the highest reported for any U. S. passenger railroad.

The members of its board of directors are appointed by the President of the United States and are subject to confirmation by the United States Senate.