Fast Company reviews the plan and finds it a positive step in what is expected to be a very long process.
"Amtrak announced a concept plan today for what would be the United States' first high-speed rail service, connecting Washington D.C., Philadelphia, New York City, and Boston. The proposed rail line would be completed by 2040, with a launch for some sections as early as 2015. Funding has yet to be finalized, but Amtrak has already requested $2.5 billion from Congress for 2011, and earlier this year Obama earmarked $8 billion of the 2009 stimulus package for high-speed rail service. The rest would come from private investment, according to CEO Joseph Boardman.
With the Next-Generation High-Speed Rail a trip between New York City and Boston would take only 84 minutes, a trek that currently takes over 2.5 hours by Amtrak's Acela train, or four hours by bus."