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U.S. to inject $53 billion into passenger rail

U.S. Vice President Joe Biden on Tuesday announced an ambitious $53 billion program to build new high-speed rail networks and make existing ones faster over the next six years.

Biden, who estimated he has ridden Amtrak between Washington and his home in Wilmington, Delaware, some 7,900 times, made a strong pitch for rail transportation to enable the United States to compete and lead internationally.

Advocates say U.S. investment in high-speed rail lags many other countries and point to China, which plans to invest $451 billion to $602 billion in its high-speed rail network between 2011 and 2015, according to the China Securities Journal.

The full story appears at Reuters.com.

Wednesday, February 9, 2011

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