Republicans make their case for private sector financing of high-speed rail

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The Hill:

Republicans on the House Transportation and Infrastructure Committee will press the Obama administration this week to rely more on private investment for a high-speed rail project in the Northeast.

Committee leaders noted the benefits high-speed rail would provide to cities in the Northeast in a memo distributed by Republican staff, stressing that the corridor between Boston and Washington is an ideal location for the investment.

Still, the memo says, a future project must be supported by private investors and not rely too heavily on federal funds.
“While the need and opportunity for a successful true high-speed rail project exists, the federal government cannot carry the full financial burden of public infrastructure projects,” the memo states. “Private industry must step up and help fill the gaps in high-speed rail funding and operations.”

President Obama has made the creation of a high-speed rail line a priority of his administration, but has received backlash from Republican governors, who said they were worried their states would be hit with some of the costs for the railroad upgrades.