Friday, June 29, 2012

Alaska Railroad to retain majority of federal funding

The Alaska Railroad Corporation was informed by the office of Rep. Don Young (R-Alaska) that ARRC will continue to receive funding near current levels through Federal Transit Administration formula funds.

A House-Senate Conference Committee reached an agreement on the surface transportation bill that includes funding for ARRC in a new funding formula. Details of the formula and the exact amount of funding for ARRC are not confirmed. However, ARRC was told to expect about $31 million compared to the $35.8 million ARRC currently receives.

"A great deal of thanks goes to Congressman Young and Senators Murkowski and Begich for their hard work to retain critical funding for the Alaska Railroad in the transportation bill," said Chris Aadnesen, ARRC president and CEO. "We deeply appreciate their backing, as well as the support we received from Alaskans from every corner of the state, our employees and labor leaders from across the country."

Both the House and the Senate are expected to consider the conference committee approved legislation this week.

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