From Investing.com: 2024-04-09 02:55:52

President Joe Biden is looking to collaborate with Japan to build the first high-speed rail in the U.S., linking Dallas and Houston. The estimated cost of the project is between $25-$30 billion, with potential funding from Federal Railroad Administration. This initiative aims to address the lack of public transport options in the U.S.

The project to build a high-speed rail system between Dallas and Houston will be discussed during Japanese Prime Minister Fumio Kishida’s visit to Washington. The rail link, if successful, is expected to significantly reduce travel times between the two cities to about 90 minutes from the current 3-1/2 hours by car.

The partnership to develop the high-speed rail project in the U.S. will involve collaboration with Japan, using bullet train technology and financing from Japanese state lenders. The project is seen as a win for the Biden administration’s focus on climate-friendly policies and infrastructure investment to boost the economy and create jobs.

President Biden’s support for the high-speed rail project aligns with his push for government-backed building projects to address economic concerns and create jobs. The project could face opposition from hardline Republican lawmakers who have opposed public funding for rail projects in the past. The goal is to provide a more efficient and environmentally friendly transportation option in the U.S.



Read more at Investing.com: Exclusive-Biden, Kishida likely to discuss Texas bullet train project, sources say By Reuters