The U.S. Department of Transportation (DOT)’s Build America Bureau is loaning Amtrak $2.45 billion to improve service along the Northeast Corridor – the largest single loan DOT has ever made. The loan comes through DOT’s Railroad Rehabilitation and Improvement Financing (RRIF) Program.

Vice President Joe Biden’s office reports that Amtrak will use the loan to:

• Add approximately 40% more seats on Acela service along the Northeast Corridor, which connects Washington, D.C. through Maryland to Boston;
• Increase Acela service frequency along the Corridor;
• Provide track upgrades between the New Carrolton and Baltimore stations; and
• Improve stations and platforms at four stations, including Washington Union Station and Baltimore Penn Station.

Vice President Biden stated,

This loan is a key step to providing investments needed to help keep high speed trains moving throughout the region, and to help all commuters in the Northeast Corridor. We need these kinds of investments to keep this region – and our whole country – moving, and to create new jobs.

DOT Secretary Anthony Foxx said,

There’s no better way to say ‘we’re open for business’ than closing the largest loan in DOT history.  America needs to go big on infrastructure, and we’re not just talking the talk.  The Build America Bureau has put the pieces in place to get big, transformative projects done, and this is just the first big marker.

Vice President Biden’s office provides more information in its press release.