🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Biden to nominate five for U.S. passenger railroad Amtrak board

Published 04/29/2022, 03:03 PM
Updated 04/29/2022, 03:06 PM
© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks at an event marking Amtrak's 50th Anniversary, at the 30th Street Station in Philadelphia, Pennsylvania, U.S., April 30, 2021. REUTERS/Erin Scott/File Photo

By David Shepardson

WASHINGTON (Reuters) - U.S. President Joe Biden plans to nominate five people to serve on the Amtrak board as the U.S. passenger railroad is making an aggressive push to expand service and improve key infrastructure, an official told Reuters on Friday.

Congress in November approved $22 billion for Amtrak as part of a $1 trillion bipartisan infrastructure bill. Last month, the Biden administration asked Congress for $3 billion in annual funding for Amtrak for the 2023 budget year, up from $2.33 billion in prior annual funding.

Amtrak, which would get $7.4 billion in total for 2023, including the infrastructure bill funding, wants to expand dramatically across the United States and add up to 39 corridor routes and up to 166 cities by 2035.

Biden plans to renominate board chair Anthony Coscia, an Amtrak director since 2010 and a prior chair of the an Port Authority of New York and New Jersey, the official said.

The president also plans to nominate David Capozzi, a retired federal senior executive and former national advocacy director for the Paralyzed Veterans of America; Normal, Illinois, Mayor Christopher Koos; Delaware State AFL-CIO President Samuel Lathem who is a former Chrysler autoworker; and Robin Wiessmann, executive director and chief executive of the Pennsylvania Housing Finance Agency.

Biden commuted between his home state of Delaware and Washington for decades when he was in the Senate and getting the nickname "Amtrak Joe" in the process.

© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks at an event marking Amtrak's 50th Anniversary, at the 30th Street Station in Philadelphia, Pennsylvania, U.S., April 30, 2021. REUTERS/Erin Scott/File Photo

The Biden administration sees expanding public transit and rail service a key part of its climate and traffic congestion reduction plans.

The 10-member Amtrak board includes Transportation Secretary Pete Buttigieg, Amtrak CEO Stephen Gardner and eight appointees. Biden is making the five Democratic selections for the board, while it is not clear whom Senate Republicans will seek for the board.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.