WASHINGTON (Indiana’s NewsCenter) - Vice President Joe Biden spoke Tuesday on an ambitious federal program that would invest billions into new high-speed rail networks.
The Obama Administration hopes to invest a total of $53 billion into high-speed rail which includes $8 billion upfront and the rest disbursed over the next six years.
That's on top of the $10 billion already spent since 2009.
The administration’s goal is to give 80 percent of Americans access to high-speed rail within the next 25 years.
The plans include for three types of rail, regional rail with trains speeds of 90 to 125 mph; core express rail corridors that would form the backbone of the high-speed system with electric trains traveling at speeds of 125 to 250 mph; and corridors with trains traveling at up to 90 mph.
Indiana was tapped to get nearly $365,000 for high-speed rail in December.
Potential funding for the new plan should be outlined in President Obama's budget when he releases it next week.
Congressional Republicans are not expected to support the move.
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