AMTRAK EXECUTIVE BONUS DISCLOSURE ACT

AMTRAK EXECUTIVE BONUS DISCLOSURE ACT

Congressional Record, Volume 171 Issue 6 (Monday, January 13, 2025) [Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)] [House] [Pages H99-H100] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] AMTRAK EXECUTIVE BONUS DISCLOSURE ACT Mr. GRAVES. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 192) to amend title 49, United States Code, to require Amtrak to include information on base pay and bonus compensation of certain Amtrak executives, and for other purposes. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 192 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Amtrak Executive Bonus Disclosure Act''. SEC. 2. AMTRAK REPORTS AND AUDITS. Section 24315(a) of title 49, United States Code, is amended-- (1) by inserting ``, and make available to the public on the website of Amtrak,'' after ``submit to Congress''; and (2) by striking paragraph (2) and inserting the following: ``(2) provide the annual base pay and any bonus compensation paid to a member of the executive leadership team (including the chief executive officer, president, and officers) of Amtrak, including the criteria and metrics used to determine any such bonus compensation; and''. The SPEAKER pro tempore. Pursuant to the rule, the gentleman from Missouri (Mr. Graves) and the gentlewoman from Oregon (Ms. Hoyle) each will control 20 minutes. The Chair recognizes the gentleman from Missouri. General Leave Mr. GRAVES. Mr. Speaker, I ask unanimous consent that Members have 5 legislative days in which to revise and extend their remarks and insert extraneous material into the Record on H.R. 192. The SPEAKER pro tempore. Is there objection to the request of the gentleman from Missouri? There was no objection. Mr. GRAVES. Mr. Speaker, I yield myself such time as I may consume. H.R. 192 was introduced by Representative Rouzer, and I am very proud to be a cosponsor on this bill. The bill is intended to ensure that annual bonuses awarded to Amtrak's top executives are made public at the beginning of every calendar year. Amtrak relies heavily on government subsidies, and during more than 50 years of existence, it has never made a profit. Nonetheless, Amtrak executives have been awarded generous six-figure bonuses despite financial losses and service issues. The disclosure of such huge payouts rightfully outrages the public and members of the Transportation and Infrastructure Committee. This bill is a [[Page H100]] strong step toward transparency and accountability for Amtrak executives and Amtrak's board of directors, which awards the bonuses. I very much appreciate the gentleman from North Carolina Representative Rouzer's work on this legislation, and I would urge adoption by the House. Mr. Speaker, I reserve the balance of my time. Ms. HOYLE of Oregon. Mr. Speaker, I yield myself such time as I may consume. I rise in support of the Amtrak Executive Bonus Disclosure Act. This bill would require Amtrak to post the executive leadership team compensation annually on the Amtrak website. Congress already requires the Nation's intercity passenger railroad to submit this information to Congress. This bill would increase transparency of the information to the public and require it to be posted online as well, as Amtrak has now done for the last 2 years. Mr. Speaker, I urge my colleagues to support this legislation, and I reserve the balance of my time. Mr. GRAVES. Mr. Speaker, I yield 5 minutes to the gentleman from North Carolina (Mr. Rouzer), the bill's sponsor. 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. Ms. HOYLE of Oregon. Mr. Speaker, I thank Chairman Graves, Representatives Frederica Wilson, Troy Nehls, and David Rouzer for working together to bring this very important legislation forward to increase transparency for the American people. I urge my colleagues to support this legislation. It is a good bill. It should pass. Mr. Speaker, I yield back the balance of my time. Mr. GRAVES. Mr. Speaker, H.R. 192 provides the necessary transparency for Amtrak. This legislation passed the House last Congress under suspension of the rules by voice vote, and I look forward to it passing again today. Mr. Speaker, I urge support of this bill, and I yield back the balance of my time. The SPEAKER pro tempore. The question is on the motion offered by the gentleman from Missouri (Mr. Graves) that the House suspend the rules and pass the bill, H.R. 192. The question was taken. The SPEAKER pro tempore. In the opinion of the Chair, two-thirds being in the affirmative, the ayes have it. Mr. GRAVES. Mr. Speaker, on that I demand the yeas and nays. The yeas and nays were ordered. The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further proceedings on this motion will be postponed. ____________________

Referenced legislation: HR192, HR192