03/30/2010 05:12 am ET Updated May 25, 2011

Illinois High-Speed Rail Proposal Only Gets $1.2 Billion

Illinois' plans for high-speed passenger trains, designed to transform rail into a preferred transportation option and create jobs, will move forward on a slower track than some officials had anticipated.

The setback will become official on Thursday when President Barack Obama is scheduled to announce $8 billion in economic stimulus grants for the states to develop 13 high-speed rail corridors linking major cities and the rural areas between them.

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