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Obama to call for $53B for high-speed rail


February 8th, 2011

By JEFF MASON



Read More: http://www.msnbc.msn.com/id/41474264...s-white_house/

The U.S. government will dedicate $53 billion over six years to build new high-speed rail networks and make existing ones faste, Vice President Joe Biden said Tuesday. The initiative will allow the Department of Transportation to choose corridors for the new projects and increase U.S. use of the passenger rails, the White House said in a statement. President Barack Obama's budget for fiscal year 2012, which is to be unveiled next week, includes $8 billion for the plan. The rest of the money will be allocated over the six-year time period.

Obama has said he wants to target investments in areas such as infrastructure while reducing spending to tackle the budget deficit. "As President Obama said in his State of the Union, there are key places where we cannot afford to sacrifice as a nation — one of which is infrastructure," Biden said in a statement. "As a long-time Amtrak rider and advocate, I understand the need to invest in a modern rail system that will help connect communities, reduce congestion and create quality, skilled manufacturing jobs that cannot be outsourced."

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