Daily News | This start-up thinks it can run the Northeast Corridor better than Amtrak
states between Washington and Boston. It’s the latest big project in Spencer’s 40-year railroad career.
Yet some transportation experts say now is an apt time to consider reforms as the 2021 infrastructure law pumps $66 billion over five years into Amtrak, the largest capital investment since its founding more than five decades ago. “America’s Railroad” has needed about $40 billion in government grants over the years, in part because Amtrak was not linked to a permanent funding source like the federal trust funds that finance highway, mass transit and airport infrastructure.Inspired by deadly Philly derailmentin Philadelphia, which killed eight passengers and injured dozens more.
AmeriStarRail would like to negotiate a deal to lease or purchase the Alstrom Acela trains that are in the works — taking on the federal loan Amtrak used to pay for them — and then order 76 more that it would finance, backed by investors, Spencer said.New Acela trains are built for luxury and speed, but the Northeast Corridor needs a lot of work.
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