Railroads' $13B investment comes from private capital, says AAR

U.S. railroads are set to spend $13 billion on capital improvements to expand, upgrade and enhance the national rail network this year, according to the Association of American Railroads. "Unlike trucks, barges or airlines, America's freight railroads operate on infrastructure they own," said AAR CEO and President Edward Hamberger. "They build and maintain themselves so taxpayers don't have to. And this year they are investing at a record rate to meet the demands of the recovering economy." The investment will provide 15,000 railroad jobs, with veterans representing one in every five hires, the AAR said.

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