Politco.comThe President’s plan would help address this by making a major new investment in the nation’s bus and rail transit system. The Administration is also committed to expanding public transit systems and would dedicate significant new funding to the “New Starts” program – which supports locally planned, implemented, and operated major transit projects. In addition, the Administration is committed to building on its investments so far in high-speed rail – constructing a system that will increase convenience and productivity, while also reducing our nation’s dependence on oil and cutting down on pollution. The President’s plan would also invest in a long-overdue overhaul of Amtrak’s fleet.
Say what you will about Obama, he's certainly the most rail/alternate transportation-friendly president in the modern era.