Railroad retains majority of federal funds

The Alaska Railroad Corp. will continue to receive funding near current levels through Federal Transit Administration funds, the railroad said June 28.

Rep. Don Young, R-Alaska, served on the conference committee for the surface transportation fund and the railroad credited Young, along with Alaska’s senators, Republican Lisa Murkowski and Democrat Mark Begich, with working to retain what ARRC President and CEO Chris Aadnesen called “critical funding” for the railroad.

While details of the formula and the exact amount of funding were not confirmed, the railroad said it was told to expect about $31 million compared to the $35.8 million it currently receives.

The Senate bill would have reduced ARRC FTA funds by at least 75 percent, the railroad said, while the House bill did not change its FTA funds.

“The fact that we had Don Young, who is such a great fighter for Alaska and the railroad, on the conference committee was absolutely invaluable. His long-term relationships with many of the House and Senate conference committee Members were critical to our success,” Aadnesen said.

Both bodies passed the conference committee bill.

—Petroleum News