House framework calls for billions of dollars of investment for transit and rail

Written by Bill Wilson, Editor-in-Chief
image description
CARES Act provides billions of dollars for rail and transit agencies, which are struggling mightily during the coronavirus outbreak.

A group of lawmakers have put together a $760 billion infrastructure initiative that will feed billions of dollars into transit and rail.

House Rep. Peter DeFazio, who chairs the House Transportation and Infrastructure Committee, Rep. Frank Pallone Jr., head of the House Energy and Commerce Committee, and Rep. Richard Neal, chairman of the House Ways and Means Committee, have collaborated to produce something called “Moving Forward Framework”, which House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer were planning on unveiling to lawmakers on Jan. 29. Democrats also are trying to get the White House more involved to come up with a solution to transportation funding. A $2 trillion plan was worked up last spring but talks broke down after President Trump became angry at House Democrats’ pursuit of his impeachment.

At a press conference in early January, Pelosi said the Trump administration has not indicated any desire to renew talks of a transportation solution, so the House was going to move forward without any backing from the White House.

“Moving Forward Framework” includes $105 billion for transit, $55 billion for rail and another $19.7 billion for harbors and ports, but a way to fund the massive undertaking has not yet been determined.

According to the New York Times, Neal has approached the Secretary of Treasury about how the framework could be supported financially.

For the latest news, go to www.rtands.com.

Source: New York Times

Categories: Class 1, Freight, Passenger, Ports, Rail News, Railroad News, Shortline/Regional, Track Construction, Track Maintenance, Track Structure
Tags: , , , , , ,

Media