[Congressional Record Volume 161, Number 103 (Thursday, June 25, 2015)]
[Senate]
[Pages S4642-S4643]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       PASSENGER RAIL LEGISLATION

  Mr. BOOKER. Mr. President, the tragic Amtrak derailment last month 
shined a light on the critical need to have a strong, safe passenger 
rail system for the millions of passengers traveling on our rails. My 
heart goes out to

[[Page S4643]]

the families and individuals impacted by the tragedy and I hope we 
never see anything like it again.
  Last week I joined my colleague, Senator Wicker in introducing the 
Railroad Reform, Enhancement, and Efficiency Act, comprehensive 
passenger rail legislation that boosts our infrastructure and 
implements needed reforms. Most importantly, it improves safety on our 
Nation's railways. This 4-year authorization is a step forward in 
providing the stability Amtrak needs to be successful and serve the 
consumers who rely on it.
  Across every mode of transportation, America needs critical 
investment. Nowhere is the investment crisis more pronounced than in 
New Jersey. The century-old tunnels that run under the Hudson River 
between New Jersey and New York are reaching a breaking point. We must 
act with urgency to find State and local partners to replace this 
critical infrastructure. New Jersey is also home to the Portal Bridge, 
which is in need of replacement in order to prevent delays and closures 
that slow our economy. It has been estimated that the loss of the 
Northeast Corridor could cost the country $100 million per day; a 
devastating impact that we cannot afford. The costs for these projects 
are significant, which is why we must find new ways to help advance 
them.
  Our legislation is a game changer for large-scale rail projects. The 
bill helps unlock and leverage innovative financing opportunities by 
improving the Railroad Rehabilitation and Improvement Financing 
Program, or RRIF. Our legislation will establish new creditworthiness 
criteria focused on the merits of the project, increase repayment 
flexibility, help leverage private financing opportunities, and speed 
up the process of applying for and receiving a loan--all of which can 
help advance projects like the Gateway Project along the Northeast 
Corridor. As China and other countries invest tens of billions for rail 
infrastructure, we must do more than maintain the status quo. Our 
bill's financing provisions enable us to take every possible advantage 
to improve our rail capacity and infrastructure.
  Our legislation also includes strong safety provisions to protect 
passengers and workers. Positive train control, or PTC, was cited as a 
technology that could have prevented the tragic derailment last month 
and our legislation will advance deployment of PTC by authorizing 
grants and prioritizing loan applications to support implementation. 
Additionally, the legislation will improve safety by requiring action 
on priorities like grade crossings and enforcing speed limits, as well 
as worker protections, among various other provisions.
  It is important to note that a strong authorization of funding for 
passenger rail is only the start. Investing in the future of America's 
rail network will also require dedicated and multi-year streams of 
revenue to support the funding authorized in this bill. I am committed 
to working with my colleagues on the Finance Committee to make that a 
reality.
  The Railroad Reform, Enhancement, and Efficiency Act is important for 
our global competitiveness and a forward step in promoting investment 
in our infrastructure. I thank the committee leadership and Senator 
Wicker for their support and work on this important legislation that 
will improve the lives of New Jerseyans and individuals across the 
country I urge my colleagues to support it.

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