RAIL IMPROVEMENT BILL INCLUDES FUNDS FOR FREIGHT, SHORT LINES

RAIL IMPROVEMENT BILL INCLUDES FUNDS FOR FREIGHT, SHORT LINES    The U.S. House Transportation and Infrastructure Committee’s Subcommittee on Railroads will hold a hearing today on legislation which would include $71 billion in railroad infrastructure expansion and improvements.
   The legislation, “The Rail Infrastructure Development and Expansion Act for the 21st Century” (H.R. 2950), was introduced by Rep. Don Young, R-Alaska, chairman of the House Transportation and Infrastructure Committee, and Rep. Jack Quinn, R-N.Y., chairman of the House Subcommittee on Railroads.
   The bill includes $35 billion in loans and loan guarantees for freight and commuter rail improvements, including $7 billion for short lines; $35 million per year through 2009 for corridor planning and technology development; and $36 billion in tax-exempt bonds for high-speed rail projects over 10 years.