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Economic Stimulus and Railroads’ Share of the Pie
President Obama signed H.R. 1 – the American Recovery and Reinvestment Act of 2009 – into law on Tuesday, February 17. The $787 billion initiative includes a number of provisions for passenger and freight rail:
• $27.5 billion for U.S. DOT highway formula grants to states. The bill expands eligibility allowing state DOTs and metropolitan planning organizations (MPOs) to flex any amount of this funding for eligible passenger and freight rail and port infrastructure projects.
• $1.5 billion for projects of “regional and national significance”. Chicago’s CREATE program would be an example. Rail, transit, ports, highways, and bridges are eligible for this funding.
• $8.4 billion for public transit systems – including bus and rail.
• $9.3 billion for intercity passenger rail – including $8 billion for high-speed rail corridors and $1.3 billion for Amtrak.
• $150 million to the Department of Homeland Security for rail transit security.
Source: Railway Age
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