The Federal Railroad Administration has OK'd a $27.8 million grant for a rail line that would move trains between New York and Washington, D.C., at 300 mph,
The Wall Street Journal reports.
The line uses magnetic levitation to reach speeds higher than traditional trains.
The funds are just a fraction of the expected cost of the project by private organization Northeast Maglev, working with railway officials in Japan.
Kenichiro Sasae, Japan's ambassador to the U.S., lauded the support for the project, to which Japan has promised several million dollars.
The grant was awarded to the Maryland Department of Transportation and Maryland Economic Development Corporation and will be used for planning and engineering analysis, environmental and safety reviews and compliance and permitting reviews.
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