Federal officials say the government will make a $2.45 billion loan to Amtrak to buy new trains, upgrade tracks and make platform improvements on the Northeast corridor.
Vice President Joe Biden made the announcement Friday at the Wilmington, Delaware, station, which is named for him. He was joined by Deputy Secretary of Transportation Victor Mendez, whose agency is making the loan.
Officials say the loan will allow Amtrak to boost seating by about 40 percent on Acela trains traveling between Washington and Boston.
The loans also will be used to upgrade tracks between the New Carrolton, Maryland, and Baltimore stations. Station and platform improvements will be done at the under-construction Moynihan Station in New York City, and Washington Union Station, Baltimore Penn Station, and New Carrolton Station.
U.S. Senators Richard Blumenthal and Chris Murphy released a joint statement on the announcement on Friday.
"This sizeable, significant $2.4 billion investment is a critical step forward and much-needed down payment toward rebuilding our aging rail network. The Northeast Corridor is the engine that moves our country's economy, but our passenger rail system seems stuck in the 19th century. We are pleased the USDOT has heeded our calls to provide more funds from the rarely used RRIF financing program to make needed repairs and investments. We must use every resource to provide the passenger rail system our economy demands and our constituents deserve," the statement read.
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