Transportation Secretary Sean P. Duffy Cancels $26 Million in Funds for DC-Baltimore MagLev

U.S. Department of Transportation Secretary Sean P. Duffy today announced that the Federal Railroad Administration (FRA) will cancel two grants totaling over $26 million for the Baltimore-Washington Superconducting Magnetic Levitation (SCMAGLEV) Project. After nearly a decade of poor planning, significant community opposition, tremendous cost overruns, and nothing to show for it, Secretary Duffy is ending federal involvement in the project and its cost to taxpayers.

The SCMAGLEV Project was proposed to be a high-speed rail project using superconducting magnetic levitation technology between Baltimore, Maryland, and Washington, D.C. The estimated capital cost to build this project is nearly $20 billion.

FRA’s involvement in the project dates back to 2016. Since, the project has experienced numerous delays and cost overruns. Since the grant was obligated in 2016, the environmental review process has been paused twice on the Federal Permitting Dashboard. It remained on pause from August 2021 until today.

Rescission of the NOI does not prevent the future deployment of MAGLEV technology in the U.S.

-via Press Release

New York Governor Hochul Restores Service and Announces Further Improvements to Rail Service Between Albany and New York City

Governor Kathy Hochul, Metro-North Railroad President Justin Vonashek and Amtrak President Roger Harris announced that New York State has secured a series of improvements to rail service on the Empire Service Corridor between Albany and New York City. Supported by New York State via the Department of Transportation, the Empire Service is an economic engine up and down the Hudson River, carrying two million riders annually and achieving record-high ridership in 2024.

CSX Corp. Announces Third Quarter 2025 Results

CSX Corp. announced third quarter operating income of $1.09 billion and net earnings of $694 million, or $0.37 per share. Excluding a non-cash goodwill impairment of $164 million in this year’s third quarter results, adjusted operating income was $1.25 billion and adjusted net earnings were $818 million, or $0.44 per share. In the third quarter of 2024, the company reported operating income of $1.35 billion and net earnings of $894 million, or $0.46 per share.