The National Railroad Passenger Corporation, better known as…
The National Railroad Passenger Corporation, better known as Amtrak, was created by Congress under the Rail Passenger Service Act of 1970. It is responsible for shuttling Americans along railway lines across the country. While it exists alongside other privately-owned passenger railway services, the federal government exclusively funds and exercises significant oversight over Amtrak because it serves an important public interest. The entity is also not subject to federal taxes on their annual profits, but instead, its annual profits are used to maintain its operations. Which of the following characterizes Amtrak?