Rail industry organizations are receiving new funding from Congress in the form of a $1tr infrastructure and investment jobs act which includes new funding for freight and passenger rail for the public. This includes a $66bn in rail funding that is going to be allocated to Amtrak, federal and state grants in the northeast corridor as well as inter-city rail services. The goal is to improve the amount of high-speed rail across the country and improve safety throughout rail systems.
Public transit will be seeing a larger level of funding over the next five years including a $39bn investment in modernization and continuation for programs across the next 5 years as well as for surface transportation efforts. The funding in these areas will also go towards R&D demonstration projects.
Investment here could lead to new grant programs for the reauthorization of service transportation provisions. At a local level, rail could become more efficient, safe, and competitive for local communities in the USA.
The passing of this funding occurred on Nov 5 with Joe Biden signing a law on the infrastructure bill. The changes with this bill could put us on an economic path to compete in the 21st century and deliver some of the greatest improvements to USA rail infrastructure in generations. The welcome nature of this bill will improve safety, accessibility and reach while also giving hope towards new jobs for a generation. Thousands of new American jobs up and down the supply chain will be introduced thanks to this bill. It will lead to improvements to the Amtrak service across America as well as significant improvements at a station wide level. This funding is vital to the growth of America for the future and the benefit of its people.
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