FILE PHOTO: Passengers board an Amtrak train inside New York's Penn Station, the nation's busiest train hub, which will be closing tracks for repairs causing massive disruptions to commuters in New York City, NY, U.S. July 7, 2017. REUTERS/Brendan McDermid/File PhotoReuters

Amtrak was on the brink of breaking even financially for the first time ever before the coronavirus pandemic hit. 
Now, the federally subsidized railroad says demand has fallen to just 5% of previous volumes. 
To make up for the revenue shortfall, Amtrak needs another $1.5 billion bailout from Congress, it said in a letter Tuesday. 
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U.S. passenger railroad Amtrak told Congress in a letter made public Tuesday it needs another $1.475 billion bailout or it will be forced to make sweeping service cuts and likely suspend some routes.

Amtrak, which has been devastated by the coronavirus pandemic, in April received $1 billion in emergency funding from Congress as part of the CARES Act. In its bid for further aid, the railroad said it will reduce its operating costs by approximately $500 million including restructuring its workforce and controlling discretionary expenses.See the rest of the story at Business Insider

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