Can American Rail Survive Without Government Support?
Key Points:
- The current US infrastructure bill aims to invest $66 billion in passenger and freight railing improvements, which could help numerous rail projects.
- Leveraging private capital has been crucial to bridging the funding gap left by a lack of federal rail support.
- Growth in communities can’t be addressed through highways but rather by investing in real transit systems.
Commentary:
The railroad industry is something that America has depended on for centuries. Whether it is transporting goods or people, legacy rail infrastructure is still in use today and a vital piece of the logistics supply chain. But like much of the US’ infrastructure, railroads, especially passenger rails stunted by a lack of federal dollars, are in dire need of upkeep and investments. Where is that money supposed to come from?
Lewis Rand, Associate Director of Turner & Townsend, gave MarketScale his thoughts on how these systems can be updated to account for city growth, needed renovations, and to ensure longevity. Besides natural growth and upkeep, investment in the railroad industry is one of the major tenets of President Joe Biden’s recent infrastructure bill and executive order, hoping to revitalize infrastructure and promote competition within the industry. Rand also explains how the executive order could help or hurt the railroad industry.
Latest
Biden Nears Win as Japan, Dutch Back China Chip Controls
For more on the West’s race to implement China chip controls, read Bloomberg’s explainer on the computer chip “arms race.” (Bloomberg) — Japan and the Netherlands are poised to join the US in limiting China’s access to advanced semiconductor machinery, forging a powerful alliance that will undercut Beijing’s ambitions to build its own domestic […]
NYSE Mayhem Traced to a Staffer Who Left a Backup System Running
(Bloomberg) — More than 700 miles from Wall Street, the New York Stock Exchange’s backup data center on Cermak Road in Chicago is supposed to safeguard US markets, standing by at all hours in case disaster ever strikes the world’s largest venue for trading shares. When markets are closed, it participates in a well-worn routine, […]
California Storms Have Farmers Rushing to Avoid Crop Shortfall
(Bloomberg) — California farmers are facing costly damages from weeks of severe California storms that may trigger more expensive US fruits and vegetables in a time of massive food inflation. “The numbers are going to be somewhere in the hundreds of millions and perhaps in the billions,” Dave Puglia, head of the trade group Western […]
