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House to Vote on High-Speed Rail Funding, National Infrastructure Bank

by Josh Voorhees of Greenwire

The House is set today to vote on a fiscal 2010 transportation spending bill that would provide $4 billion for high-speed rail and lay the groundwork for the creation of a national infrastructure bank.

The French state railway operator SNCF decided to order 35 new-generation TGV high-speed rail cars costing more than 1.0 billion euros (1.4 billion dollars). (AFP/File/Fred Dufour) H.R. 3288 (pdf) would provide a total of $75.8 billion for the Transportation Department, an $8.6 billion jump from fiscal 2009.

The $4 billion for high-speed and intercity passenger rail is four times the total President Obama had sought for the upcoming fiscal year. The economic stimulus included $8 billion to jump-start a high-speed rail network, and the White House requested an additional $1 billion annually over the next five years.

A provision in the spending bill allows Transportation Secretary Ray LaHood to transfer half of the high-speed rail program's $4 billion to a national infrastructure bank, if one is authorized by Congress before the end of fiscal 2010. Obama had requested $5 billion for 2010 to start the bank to expand existing transportation investments by providing seed money for capital projects.

Rep. Tom Latham (R-Iowa), the ranking member on the Transportation Appropriations Subcommittee, will offer an amendment that would scale back the high-speed rail cash to $1 billion and transfer the remaining $3 billion to the cash-strapped Highway Trust Fund. Latham offered a similar amendment during last week's markup that was defeated, 22-37.

The White House offered its support for the entire spending bill and applauded the passenger rail funding increase and the infrastructure bank provision.

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