I just heard that there really IS money in the stimulation package for a Mag-Lev system. Boston-NY? No. NY-Chicago? No. San Francisco-LA? No. Drum-roll, please....Anaheim to Las Vegas. $8 billion. Put in by Harry Reid himself.
There is no money in the stimulus package set-aside specifically for mag-lev between Las Vegas and Anaheim. There is $8 billion for new high-speed rail, with no specification on which routes it would be spent on.
Boston-NYC per se (see para below though) will not be a candidate because it already is high-speed, with slow speed being on state-owned and state-maintained tracks between New Haven and New Rochelle.
NY-Chicago is not a feasible high-speed corridor.
San Francisco-Los Angeles likely the big recipient. Voters in California already approved spending $10 billion for this project.
Las Vegas - Anaheim mag-lev? Doubtful this will ever get built. Congress last year authorized $45 million to study the route. More likely will be a traditional high-speed rail between LA and Las Vegas.
The other best candidate states for high-speed rail corridors would be Florida (if the state ever re-authorizes such a corridor) and Texas.
There is a possibility that some of the $8 billion could be spent on the Northeast Corridor between New York City and Washington to get speeds on that route up to those achieved between Westerly and Boston. This would go to replacing the catenary which was installed during the Great Depression, and possibly a new tunnel for Baltimore.
Of the $1.3 billion in stimulus funding for AMTRAK, $450 million is set-aside for life-safety related projects. I suspect much of this is to improve the tunnels under the Hudson and East Rivers. Of the other $850 million, no more than 60 percent can be spent on the Northeast Corridor between Boston and Washington.