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States to Get High-Speed Rail Funds

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BloombergCalifornia will get $2.3 billion and Florida $1.3 billion to help build high-speed passenger-train service, the biggest winners among 31 states sharing $8 billion in rail grants from the U.S. economic stimulus package.

President Barack Obama will be in Tampa today at an event to announce the awards, most of which will go toward developing or laying the groundwork for 13 new high-speed rail corridors across the country, the administration said in a statement...

“There’s no reason Europe or China should have the fastest trains,” Obama said yesterday in his State of the Union speech, citing Florida’s rail development. “There are projects like that all across this country that will create jobs and help move our nation’s goods, services and information.”

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