The Obama Administration announced Thursday it is shelling out $2.4 billion in funding for a national high-speed rail network that will involve 54 projects through 23 states. Within 25 years, the $8 billion rail system is expected to allow customers to travel from city to city at speeds of 150 to 22 mph.
Although the project is receiving substantial support from Americans, the most recent distribution from the Department of Transportation apportions only $5.6 million to projects in Texas - the equivalent of one-quarter of one percent of the total allocation.
The reason for the lack of funding in comparison to other states is a result of so few studies conducted on how to implement the rail system, as well as it being in the early stages of development planning.
"If we are serious about looking at high-speed rail as a real alternative for our citizens to get from city to city, then we have to do these studies and we have got to pay for them somehow," said Texas Department of Transportation spokeswoman Karen Amacker. "The $5.6 million is money we wouldn't have had otherwise."
Many hope Texas realizes the business potential of such an innovation in transportation. With a high-speed rail system in place, customers can expect to travel from Dallas to San Antonio or Houston in less than an hour - a revolution that could spurt a wealth of entrepreneurs to launch new LLCs in Texas.
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Posted: Oct 28th, 2010