President Obama's budget calls for $1 billion a year in new federal spending for high-speed rail, on top of the $8 billion set aside in the recent economic stimulus package.
Obama proposes a "new federal commitment" to link U.S. cities with trains that can go at least 110 mph:
To provide Americans a 21st Century transportation system, the Administration proposes a five-year $5 billion high-speed rail State grant program. Building on the $8 billion down payment in the American Recovery and Reinvestment Act of 2009, the President’s proposal marks a new Federal commitment to give the traveling public a practical and environmentally sustainable alternative to flying or driving. Directed by the States, this investment will lead to the creation of several high-speed rail corridors across the country linking regional population centers.