The White House wants Congress to get on board with a more modernized high-speed train system. VP Joe Biden pitched the program today as a way to improve transport within the U.S. and quickly create thousands of jobs. Biden, a frequent Amtrak rider, estimated the program would costs $53 billion over six years.
Dozens of foreign rail manufactures have already decided to expand or relocate to the U.S. And the strong support of state lawmakers means the White House doesn't need to lobby members of Congress for the cash as much.
But, Eric Cantor is just not into the idea. The House GOP Majority Leader said, "I'm not in favor of additional money that we don't have on those projects and we'll certainly look for ways to leverage the private sector as far as that activity is concerned."
Biden argued the U.S. needs to start the program in order to keep up with Japan and China. He said, "If we do not, you tell me how America is going to be able to lead the world in the 21st century.” Clearly, he didn’t get the memo hoverboards are way of the future.