In this paper, dynamic response of an infinitely long beam resting on a foundation of finite depth, under a moving force is studied. The effect of foundation inertia is included in the analysis by modelling the foundation as a series of closely spaced axially vibrating rods of finite depth, fixed at the bottom and connected to the beam at the top. Viscous damping in the beam and foundation is included in the analysis. Steady state response of the beam-foundation system is obtained. Detailed numerical results are presented to study the effect of various parameters such as foundation mass, velocity of the moving load, damping and axial force on the beam. It is shown that foundation inertia can considerably reduce the critical velocity and can also amplify the beam response.