An initial $8 billion investment will be part of the budget plan Obama is set to release Monday. If Congress approves the plan, the money would go toward developing or improving trains that travel up to 250 miles per hour, and connecting existing rail lines to new projects. The White House wouldn't say where the money for the rest of the program would come from, though it's likely Obama would seek funding in future budgets or transportation bills.
Vice President Joe Biden and Transportation Secretary Ray LaHood were to announce the initiative during an event Tuesday in Philadelphia.
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1 comment:
Substitute the word expenditure anywhere you find the term "investment" in this article.
That makes it sound quite different, doesn't it?
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