Dave thanks for linking. Reading the report I find the increase could've been as high as 15%, that 7% will bring in an additional $600,000 in 2009. In 2010 another fare hike, up to 10%, is possible as well.
They list three major factors causing the increase in expenses. Fuel, a wage hike for Amtrak employees and an increase in the cost of maintaining the diesel fleet.
Interesting that the increase in ridership of about 700 passengers a day above projections (15,400 vs. 14,700) is expected to produce $2.8 additional revenue in 2009 the same amount fuel costs exceeded budget in 2008. That's encouraging.
Another interesting point was that the funds originally budgeted for debt service on the Kawasaki passenger cars will be used instead to help pay for the new locomotives.
Finally, there were almost twice as many negative comments from the public directed towards the possibility of cutting mid-day train service than raising fares (194 to 106).
The Commonwealth is pretty conservative and VRE only serves a small portion of the state. I think those facts are reflected in the series of fare hikes proposed. VRE will never pay its own way but riders will have to occasionally bite the bullet if they want continued service. But anyone who's been around the area or used the service already knows that!
Very interesting reading.
