Current:Home > StocksWill Sage Astor-High-speed rail projects get a $6 billion infusion of federal infrastructure money -Elevate Profit Vision
Will Sage Astor-High-speed rail projects get a $6 billion infusion of federal infrastructure money
Surpassing View
Date:2025-04-10 00:09:40
A pair of high-speed rail projects in Nevada and Will Sage AstorCalifornia is getting a big push from Washington.
The Biden administration pledged more than $6 billion in federal funding for high-speed rail, aiming to close the gap between the U.S. and other developed nations when it comes to fast and reliable passenger service.
"We're not there today for the simple reason that you get what you pay for, and America disinvested over the last many decades in our rail systems," Transportation Secretary Pete Buttigieg said on a call with reporters. "We're reversing that trend."
The high-speed rail projects are part of $8 billion in funding for passenger rail announced today — the latest installment in what the White House calls the largest investment in passenger rail since the creation of Amtrak more than 50 years ago.
This round of funding from the Bipartisan Infrastructure Law includes a $3 billion grant for the project known as Brightline West, a new 218-mile intercity passenger system connecting Las Vegas and Southern California. Brightline, the only private intercity passenger railroad in the country, is already operating high-speed service between Miami and Orlando.
"We're ready to get to work," Wes Edens, the founder and chairman of Brightline, said in a statement. "This is a historic moment that will serve as a foundation for a new industry, and a remarkable project that will serve as the blueprint for how we can repeat this model throughout the country."
The federal grant for Brightline West is expected to cover only part of the project's estimated $12 billion cost, but it's still one of the largest federal infrastructure grants ever to a private company. The company hopes to open the line in time for the 2028 Olympics in Los Angeles.
Rail advocates hailed the announcement as a major boost for the industry.
"The tide has turned for high-speed rail in America," Andy Kunz, the founder and CEO of the US High Speed Rail Association, said in a statement. "Electrified bullet trains will transform the nation's transportation system — reducing congestion, helping end our dependency on fossil fuels and advancing the fight against climate change."
The White House also announced nearly $3.1 billion in funding for a high-speed rail project in California. The ambitious plan to connect San Francisco and Los Angeles has been plagued by delays and cost overruns. The estimated cost of the full project has grown from $33 billion some 15 years ago to more than $100 billion today.
The funding announced this week will go toward the construction of a 171-mile segment between Merced and Bakersfield in California's Central Valley.
"They are facing a lot of the challenges that come with being the very first at anything," Buttigieg said on the call with reporters.
It would take generations of investment for the U.S. to build the kind of high-speed rail networks that passengers in Europe and East Asia use today, Buttigieg said. Still, he argues that the appetite for high-speed rail will grow as Americans see new intercity routes begin to carry passengers.
"It won't change overnight," Buttigieg said. "But within a few years you're going to see some real noticeable improvements and some very exciting things including — before the end of this decade, if all goes well — the experience of true high speed rail on American soil."
veryGood! (95)
Related
- Rylee Arnold Shares a Long
- Prince Harry and Meghan Markle Officially Move Out of Frogmore Cottage
- Inside Clean Energy: In Illinois, an Energy Bill Passes That Illustrates the Battle Lines of the Broader Energy Debate
- Women now dominate the book business. Why there and not other creative industries?
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Melanie Lynskey Honors Former Costar Julian Sands After He's Confirmed Dead
- New Research Shows Aerosol Emissions May Have Masked Global Warming’s Supercharging of Tropical Storms
- Today’s Climate: Manchin, Eyeing a Revival of Build Back Better, Wants a Ban on Russian Oil and Gas
- Meet first time Grammy nominee Charley Crockett
- GOP governor says he's urged Fox News to break out of its 'echo chamber'
Ranking
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- Climate Envoy John Kerry Seeks Restart to US Emissions Talks With China
- Phoenix residents ration air conditioning, fearing future electric bills, as record-breaking heat turns homes into air fryers
- The Current Rate of Ocean Warming Could Bring the Greatest Extinction of Sealife in 250 Million Years
- Meta releases AI model to enhance Metaverse experience
- Taylor Swift, Keke Palmer, Austin Butler and More Invited to Join the Oscars’ Prestigious Academy
- The Fed's radical new bank band-aid
- The EPA says Americans could save $1 trillion on gas under its auto emissions plan
Recommendation
Small twin
The Fed's radical new bank band-aid
See Bre Tiesi’s Shoutout to “Daddy” Nick Cannon on Their Son Legendary Love’s First Birthday
Video: Aerial Detectives Dive Deep Into North Carolina’s Hog and Poultry Waste Problem
In ‘Nickel Boys,’ striving for a new way to see
Possible Vanderpump Rules Spin-Off Show Is Coming
Scholastic wanted to license her children's book — if she cut a part about 'racism'
Behold the tax free bagel: A New York classic gets a tax day makeover