House T&I Committee Chairman John Mica, R-Florida, called Thursday's meeting at Grand Central Terminal to discuss the significant need for private-sector participation and resources in developing, financing, constructing, and operating true high-speed rail in the Northeast Corridor. Mica noted that Amtrak's existing Acela Express service travels at an average of only 83 mph between New York and Washington, well below world standards for high-speed rail.

"New York City is not served by true high-speed rail -- and true high-speed rail may not be realized here for more than three decades," Mica said in his prepared opening statement. "Development of true high-speed passenger rail on the Northeast Corridor, has been largely ignored."

Amtrak's current plan to bring high-speed rail to the Northeast Corridor would require $117 billion, and would not be completed until the year 2040, Mica said.

"It is my hope that this timetable can be dramatically improved," he said. "Entering into public/private partnerships to assist in financing high-speed-rail development on the corridor will get it built much faster and bring down costs. ... Amtrak will never be capable of developing this corridor to its true high-speed potential. The task is complex and large-scale, and can only be addressed with the help of private sector expertise and funding."

House Railroads, Pipelines, and Hazardous Materials Subcommittee Chairman Bill Shuster, R-Pennsylvania, said during his opening remarks that high-speed rail is essential to the nation's transportation future and its best hope for easing crowding on congested highways and airspace.

"There is simply no better way to move large numbers of people from city center to city center than on high-speed rail," Shuster said. "In my home state of Pennsylvania, upgrades to the Keystone Corridor to speeds of 110 mph have resulted in significantly higher ridership that only continues to grow. Higher speeds would only make this service more attractive. Now when I travel to Philadelphia, I refuse to drive and the Keystone Corridor train is my preferred method of transportation."

He noted that the United States is far behind the international curve on high-speed rail.

"It is clear the time for investment in high-speed rail and improvements to our intercity passenger rail system is now," Schuster said. "Failing to invest in the critical Northeast Corridor will ensure continued congestion in our nation's most densely populated region and on the corridor that presents the best opportunity for true high-speed rail and profitable service."

Witnesses at Thursday's hearing were New York Mayor Michael Bloomberg; Ed Rendell, former Pennsylvania governor and co-chair of the infrastructure interest group Building America's Future; Thomas Hart of U.S. High Speed Rail; Petra Todorovich of the Business Alliance for Northeast Mobility; Perry Offutt, managing director of Morgan Stanley; and Robert Scardelletti, international president of the Transportation Communications International Union. Prepared testimony from all witnesses and other information about the hearing is available at bit.ly/HTIC012711.

After the hearing, committee members participated in a roundtable discussion with representatives of the U.S. Department of Transportation, Amtrak, Northeast Corridor state governments, the financial sector, and rail labor unions. Amtrak President Joe Boardman said in a statement that it is critical for the Northeast Corridor to remain a public asset for future generations of Americans.

"As a result of Amtrak's stewardship and improvement of the Northeast Corridor infrastructure, train speeds have increased from 90 mph to 150 mph, America's only high-speed-rail service was introduced, and additional capacity was created to support significantly expanded commuter-rail operations," Boardman said. "We have collaborated with Northeastern states on a plan to make additional infrastructure improvements to the existing corridor and have unveiled a revolutionary vision to build a new corridor that supports 220 mph high-speed-rail service."

He noted that Amtrak was created by Congress because the privately owned railroads could no longer sustain the vital public service of intercity passenger rail.

"No other operator or company is prepared to mobilize to take over the operation of the Northeast Corridor nor are they funded to cover the long-term capital and operating costs," Boardman said.