High-Speed Rail Still Missing From Stimulus

The Senate's revised stimulus bill provides $2 billion in funding for a high-speed rail corridor, as well as another $1.1 billion to upgrade existing trains. Altogether, big-ticket rail investment only makes up about 0.3% of the bill's total outlay.

That seems odd, given the Obama administration's emphasis on "two-fers," policies that can simultaneously stimulate the economy and help the environment. High-speed rail would seem to fit the bill.

A new report out today from Britain's Grantham Research Institute on Climate Change, finds that new rail investment should be a key part of "green stimulus" plans, because new rail investment creates jobs and has long-term economic and environmental benefits. The Grantham Institute called today for $400 billion on global spending on "green stimulus" plans by this summer.

Read the whole story here.

Comments

[Peter007]

It shows that this stimulus package was just a pork bill. All the money being spent has been earmarked well in advance of the current financial crisis. These requests were in the congressional offices years ago. Now that there is a crisis, its time to pull out these special requests from party backers.
Never let a crisis get away without profiting from it.
Someone left he bank door unlocked. Lets go for it !

[paulbikes]

The day i can get decent and affordable train service to any major city ill have a heart attack.

For now, megabus and bike for long solo trips.

[newshawk14]

I agree with most of the authors premises, but I think we would get the most bang for our buck, by
embracing light rail commuter systems in high density urban areas. If the program is successful
we would quickly see a reduction in our balance of payments to the oil producers. I get the feeling
that most of the production of rail cars has moved either to Canada or overseas, and I see no reason
why the US shouldn't be a leader in the field, as we probably have the greatest backlog of needing
to improve our urban transit systems.

[newshawk14]

A second thought, if you use mass transit, instead of driving, you should receive a substantial discount on your car insurance.

[frantaylor]

The one part of Amtrak (the Northeast Corridor) that actually DOES pay for itself doesn't even get the maintenance it needs.

[ZellaBee]

Goes to show us Big OIL is still in charge.

[TheJibreelaMonsters]

oh well, ACORN will drive us around