; and (B) is completely dependent on annual discretionary appropriations for both its capital expenses and its operating costs. (3) In fiscal year 2019, Amtrak experienced record ridership, a historic low-operating loss, and a record capital spend rate. (4) In markets with sufficient infrastructure and train frequency, Amtrak has proven to be an effective mode of transportation when compared to commercial air and bus service and private automobile use. (5) Intercity passenger rail offers substantial safety, energy, and environmental advantages over most other transportation modes, but decades of insufficient capital funding has drastically limited the role that intercity passenger rail can play in the Nation’s overall transportation network. (6) There are critical capital needs on both the Northeast Corridor and the National Network, including infrastructure, fleet, stations and facilities. (7) Adding to the urgency of all these needs, due to changing demographics, population growth, urbanization, and changing travel trends, intercity passenger rail will be needed to help move our Nation into the future. (8) For these reasons, an Intercity Passenger Rail Trust Fund is needed now, more than ever, to ensure a safe, sustainable, convenient transportation option for the people of the United States. 3. Intercity Passenger Rail Trust Fund (a) In general Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 9512. Intercity Passenger Rail Trust Fund (a) Establishment There is established in the Treasury a fund to be known as the Intercity Passenger Rail Trust Fund , consisting of such amounts as may be appropriated or credited to the fund as provided in this section. (b) Transfer to Intercity Passenger Rail Trust Fund (1) In general There is hereby appropriated to the Intercity Passenger Rail Trust Fund for fiscal year 2021, and for each fiscal year thereafter, an amount equal to 50 percent of the average annual amounts appropriated to the Highway Trust