Sen. Chris Murphy, Pennsylvania Congressman Team Up To Generate Rail Line Funding
STAMFORD, CONN. (CBSNewYork) — Teaming up with an out-of-state Republican congressman, Democratic Sen. Chris Murphy of Connecticut is embarking on a plan to generate funding for the Northeast Corridor Rail Line, WCBS 880’s Connecticut Bureau Chief Fran Schneidau reported.
Sen. Murphy says he and Congressman Mike Fitzpatrick, of Pennsylvania, are committed to getting the billions of dollars needed to upgrade service and the rail lines.
He says the key is Congressman Fitzpatrick’s constituents who ride the Philadelphia portion of the line, as they are commuters who need improvements in their section of the corridor just as much as riders traveling from Boston to New York.
“It creates a series of federal loan guarantees so that states and private investors who want to fund rail improvements have a better chance of getting low interest rate financing,” Sen. Murphy said. “The idea is to come up with some innovative, new ways to finance the improvements that we know we need to make.”
Sen. Murphy said $50 billion will be needed over the next 20 years.
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