Tags: US | High | Speed | Rail

Money Woes Could Threaten High-Speed Rail's Future

Monday, 01 February 2010 06:41 PM EST

The $8 billion in stimulus cash awarded to 13 high-speed rail corridors across the country may seem like a windfall, but there's a catch. The money isn't enough to finish any of the major projects.

State coffers are dry and federal spending is being cut back. So, it's unclear who will pay the rest of the multi-billion dollar bill.

Many states have been vague about how they would foot their part of the bill. But experts say most are counting on the federal government to cover at least half of their costs.

The proposed price tag of the high-speed rail corridors is estimated to cost at least $60 billion, and possibly more than $100 billion over the next decade or two. President Barack Obama announced the $8 billion in stimulus funds last week.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


US
The $8 billion in stimulus cash awarded to 13 high-speed rail corridors across the country may seem like a windfall, but there's a catch. The money isn't enough to finish any of the major projects.State coffers are dry and federal spending is being cut back. So, it's...
US,High,Speed,Rail
133
2010-41-01
Monday, 01 February 2010 06:41 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved