President Barack Obama is calling for a 6-year $53 billion spending plan for high-speed rail. The initial $8 billion will be spent on a budge plan that the President is releasing on Monday. If Congress approves of the President’s plan, then the money would go towards developing trains that could go as high as 250MPH.
During the State of the Union address, President Obama said he wanted to give about 80% of Americans access to high-speed rail within 25 years. The Obama administration awarded $10 billion in federal grants for high-speed projects last year. This includes a $2.3 billion project to build an 800-mile-long, high-speed rail that connects Sacramento and the San Francisco Bay area to L.A. and San Diego. About $1.25 billion will be spent on connecting Tampa, Florida to Orlando.