Obama backs high-speed rail service | CourierPostOnline.com | Courier-Post.

President Barack Obama on Thursday proposed setting aside $5 billion over the next five years so states could boost high-speed rail service.

 

States would have to compete for the grants, which would total $1 billion each year beginning in 2010.

The money was part of Obama’s $3.55 trillion budget plan for next year. The White House only released the budget highlights; the detailed spending blueprint is scheduled to be unveiled in April.

The rail money comes on top of $8 billion for high-speed rail in the $787 billion economic stimulus plan Obama signed into law this month