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Obama awards $8 billion to high-speed rail projects

January 29, 2010

High-speed rail projects across the US received an $8-billion injection of federal funds Thursday, part of an effort to boost the sagging labour market while improving the country’s infrastructure.

The money was taken out of a $787-billion economic stimulus package approved in February and will go to 13 planned high-speed rail corridors across the country. The bulk of the funds will go to projects in Florida and a high-speed line in California from Los Angeles to San Francisco.

President Barack Obama said he hoped the investment will start the process of creating a nationwide high-speed rail network that has long been lacking in the US.

“Theres no reason why Europe or China should have the fastest trains when we can build them right here in America,” Obama said in a statement.

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