Amtrak Pays Executives Hefty Bonuses as Losses Continue

Fourteen executives at Amtrak received high incentive bonuses last year despite the company’s poor financial performance and ongoing struggles with capital projects. The rail service paid over $5 million in bonuses in 2023, while reporting losses of $1.7 billion. The upgrade of the Acela, a popular high-speed route, has been particularly problematic for Amtrak. These large bonuses have drawn criticism from Senator Ted Cruz, who questioned their justification. Amtrak claims the bonuses are essential for attracting and retaining talent. The company’s incentive bonus program has faced scrutiny in recent years, with calls for increased transparency and accountability. Amtrak’s CEO, Stephen Gardner, received a significant short-term incentive payout but did not receive a long-term incentive bonus in 2023.