(5MinNewsBreak.com) – In apparent preparation for squandering billions of taxpayer dollars, Joe Biden’s administration is suggesting it could fund a high-speed rail project in Texas that is already failing because of a lack of investor interest and has been described by critics as a “boondoggle.”
The Biden administration’s hints refer to the possibility of allocating federal funds to revive the proposed high-speed rail link between Houston and Dallas, which has been languishing for nearly a decade, The Daily Caller reports.
In a recent meeting with Japanese Prime Minister Fumio Kishida, President Joe Biden discussed potential financial support for the Texas Central high-speed rail initiative with Japanese bullet train technology.
This project has been in a dormant state since 2022, marked by the resignation of senior executives and a cessation of private financing, with no construction having commenced despite plans starting almost ten years ago, as per reports by Reuters and the Texas Tribune.
Previously, the Biden administration had already allocated $500,000 to Amtrak to assess the feasibility of the Houston-Dallas train route.
After the discussions with Kishida, the White House released a document stating the project might qualify for federal funding if it meets certain criteria, though these were not specified.
“The U.S. Department of Transportation and Japan’s Ministry of Land, Infrastructure, Transport and Tourism welcomed Amtrak’s leadership of the Texas Central High-Speed Rail Project, utilizing Shinkansen technologies, which was recently selected for the Federal Railroad Administration’s (FRA) Corridor Identification and Development grant program,” noted the White House document.
Critics of the project argue it offers minimal benefits compared to existing travel options between Houston and Dallas and poses significant disadvantages for property owners along the proposed route and taxpayers who may bear the financial burden of a project with uncertain completion prospects.
“I just don’t see the need for it,” stated Marc Joffe, a policy analyst at the Cato Institute.
“I don’t hear massive complaints about people not being able to get from Houston to Dallas or vice versa. I’m really not sure what the case is for allocating public money to this other than trying to keep up with Japan’s, China’s and France’s of the world by saying, ‘Hey, we’ve got high-speed rail,'” Joffe elaborated.
Initially, the project, envisioned to connect Dallas and Houston, was to be completely funded by private means.
A significant obstacle has been acquiring land rights for the proposed track, with the Texas Supreme Court granting Texas Central eminent domain powers in 2022 after extensive opposition.
The estimated cost of the high-speed rail project has escalated from $10 billion to over $30 billion as of April 2020.
Copyright 2024, 5MinNewsBreak.com
