High-Speed Rail: Stealth Budget Plans to Keep the Program Alive

Given the Administration’s commitment to costly passenger rail projects, the remaining $27 billion in loan and guarantee authority under the Railroad Rehabilitation and Improvement Financing Act poses a significant risk to the integrity of the federal budget. Many of these large passenger rail and high-speed rail loans are unlikely to ever be paid off, and future appropriations will be required to cover the losses. Under the circumstances, Congress should reduce the RRIF cap from $35 billion to its original $3.5 billion or, better yet, eliminate the program altogether.

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