By Ron Thaniel
July 14, 2003

The Transportation and Infrastructure Committee on June 25 approved the "Railroad Infrastructure Development and Expansion Act for the 21st Century," or RIDE 21 providing $60 billion in funding for high'speed rail and other rail infrastructure projects, including passenger and freight rail, and includes a provision for Maglev projects.

The bill (H.R. 2571) was introduced by House Transportation and Infrastructure Committee Chairman Don Young (AK), Ranking Member James Oberstar (MN), Representative Jack Quinn (NY), Chairman, Subcommittee on Railroads, and Rep. Corrine Brown (FL), Ranking Member, Subcommittee on Railroads.

This bill would establish authority for states or interstate compacts to issue federal tax exempt bonds and federal tax credit bonds for high'speed passenger railroad infrastructure. The bill would authorize the Swift Rail Development Act at $100 million annually; technology development and rail corridor development, and would expand the program to allow the acquisition of locomotives, rolling stock, and track and signal equipment.

"This RIDE 21 bill represents a two-year, bipartisan effort by this Committee to address the future of our national high'speed rail system," said Young.

Young further noted, "this legislation represents an historic commitment from this Congress to improve and expand our nation's rail infrastructure and develop a viable high'speed rail system."

For additional information on the Committee's action on RIDE 21, visit http://www.house.gov/transportation/.