Senators John Kerry and Arlen Specter have introduced legislation to provide $8 billion for developing essential transportation corridors. Boston.com files the report.
The bill would provide money for tax-exempt bonds to finance rail projects which reach a speed of at least 110 miles per hour. It would include $10 billion over 10 years to fund improvements in the Northeast and California, and $5.4 billion over a six-year period for 10 rail corridors, including connecting the cities of the Midwest through Chicago, connecting the cities of the Northwest, connecting the major cities within Texas and Florida, and connecting all the cities along the East Coast.
This looks like a tremendous boost to the Midwest High Speed Rail Association. The brilliance of that proposal is that it uses existing right-of-way and can be completed in just a few years.