The NY Sun has a status report on the proposed rocket train. Good news for rail riders, "the House passed legislation [The Passenger Rail Investment and Improvement Act] requiring the federal government to solicit proposals for its financing and development." The plan has Bloomberg's full support, and would make the NYC to D.C. trip under two hours...but it will cost a pretty penny.
New York was in full support calls for $14.4 billion in rail investment in the next five years. Some of those funds could go toward the development of the high-speed passenger train, as well as other local projects, such as a renovated Pennsylvania Station to be named after Senator Moynihan.
The plan is being touted as a new era for the rails, something that has been a long time coming -- but before we reach Galt's Gulch, President Bush may prove to be the end of the line as he threatens to use his veto power. After the Dept. of Transportation solicits funds, proposals will be evaluated and recommended to Congress.
If passed into law, this would reauthorize the federally subsidized struggling Amtrak's rail service for five more years, and give them an option to bid for, or become a partner in the new service.