Good news on Sen. Kerry's High Speed Rail Bill

[TayTay]

Kerry Wins Inclusion of High Speed Rail Provision in Stimulus

Kerry Says Job Creation from Infrastructure Investment Key to Economic Recovery


WASHINGTON, D.C. – Senator John Kerry (D – Mass.), a senior member of the Finance Committee, today applauded the inclusion of his high-speed rail provision in the Senate economic recovery package. Kerry’s provision would modernize our national transportation system while creating hundreds of desperately needed jobs.

“Job number one is creating jobs rapidly and putting people to work as we fix our economy, and the high speed rail provision we have secured in the stimulus plan will create jobs, help fix our crumbling infrastructure system, and help move our rail systems up to par with the high-tech rail systems across the globe,” said Senator John Kerry. “I’m grateful to Chairman Baucus and my colleagues on the Finance Committee for supporting this effort.”

The rail provision included in the stimulus package allows transit projects to receive tax-exempt financing and requires that high-speed trains must be reasonably expected to reach 150 miles per hour. The bill also includes a provision modeled after Kerry’s legislation that would exempt interest from private activity bonds from the Alternative Minimum Tax, including interest from high-speed rail bonds. This change would make bonds more attractive to investors.

In November, Sens. Kerry and Specter introduced the High-Speed Rail for America Act of 2008, which would transform America’s outdated and underfunded passenger rail system into a world class system.

[karynnj]

1. This is fantastic!

[Blaukraut]

2. Great News!

Is this definitely going into the bill or is there a possibility that the republicans will try to gut it in order to cram in more of their tax cuts?

[globalvillage]

3. Awesome.

I've been hoping for this. Great news.

[ProSense]

4. Woo hoo!

Sweet.

[YvonneCa]

5. Do any of you know if the West Coast...

...version is a part of Kerry's bill?

[sandnsea]

6. Not sure what you mean

But I'm fairly sure this included the Eugene-Seattle light rail, so I imagine it included other west coast projects.

[YvonneCa]

8. There is a San Diego to...

...LA and beyond high-speed rail project under discussion.

[sandnsea]

9. It funds the "California corridor"

http://kerry.senate.gov/cfm/record.cfm?id=305116

But I think that's a San Francisco to L.A. rail. Maybe nothing for San Diego, we'll see.

It also does a super high speed rail, which is for trains that go at least 150 mph. Those have to be dedicated lines, so maybe San Diego to L.A. could propose that.

[YvonneCa]

10. I think they have. It was on the ballot...

...in November (Prop 1A, I think?). I don't remember if it passed...I'll have to check. Here where I live, the route was to parallel the I15 freeway...and some locals REALLY don't like that idea.

[sandnsea]

7. That is fantastic news

I hoped it would make it in there. Maybe that's why they didn't put it in the House version in the first place, so Senator Kerry could put his excellent bill in there.