House Republicans rolled out their plan to privatize rail service in the northeast that is currently provided solely by Amtrak Tuesday, saying private companies could achieve high-speed rail there faster and cheaper than the federally-subsidized national passenger rail service.

House Transportation and Infrastructure Committee Chairman Rep. John Mica (R-Fla.) told reporters that the bill, which he said would be introduced next Tuesday, could achieve high-speed rail in 10 years. Amtrak currently has a 30 year plan.

Mica added that the privatization plan would cost less than Amtrak’s $117 billion plan, which he said was important giving the current political climate in Washington. Mica also said that doesn’t think the Amtrak trains would be true high-speed.

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