Billionaire Elon Musk said that the U.S. Postal Service and passenger railroad Amtrak should be privatized.
Billionaire Elon Musk, who is advising President Donald Trump on plans to radically shrink the U.S. government, said on Wednesday that the U.S. Postal Service and passenger railroad Amtrak should be privatized.
The Postal Service has lost more than $100 billion since 2007, including $9.5 billion in the 12 months ending September 30. Earlier this month, however, it reported a fourth-quarter profit of $144 million. As email boomed, the agency has been hurt by an 80% decline in first-class mail volume since 1997. Volume is now at the lowest level since 1968.Amtrak said in December ridership topped 2019 pre-COVID-19 levels for the first time in 2024 when it increased 15% over 2023 to a record 32.
Asked about Musk's comments, Amtrak said Wednesday its “business performance is strong. Ridership and revenue are at all-time highs.... The train service we operate across our nationwide network, as mandated by law, is on-track to reach operational profitability - for the first time in history - during this administration.”
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