That's what the NY Post is reportedly calling the High Speed Rail line that congress is currently debating over in the Transportation and Infrastructure Committee. The goal is to have the train run at an equivilent to Japan's Shinkansen HSR Trains or France's TGV. Both those trains run at speeds of up to 300mph and would improve the NYC to Washington DC route by over 45 minutes on its current time.
One of the largest proponents of the HSR line is NYC Mayor Michael Bloomberg. Mayor Bloomberg has recently been promoting the idea for increased funding for national infrastructure. It was reported earlier that infrastructure in the US is severely lacking in comparison to other developed countries.
Several key politicians support the idea of the HSR line from NYC to DC. However, it still faces the largest huddle that every other infrastructure bill in this country faces. That would be the pen of President Bush.
The total cost of the project is expected to be $14 billion of five years. This is significantly less than the $40 billion that the California HSR project is expected to cost. That project is up for a vote this November. The Northeast Corridor HSR project would supplement the Amtrak lines in most circumstances and may even be operated by an authority other than Amtrak.
The next step for the legislation is to pass the Senate select committee and to carry the Senate floor. Speculation is showing that it should have little problem passing both of those, but could be held up in the President's Office.