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A magnetically propelled train capable of traveling more than 300 miles per hour may be on the horizon on the East Coast. Japanese Prime Minister Shinzo Abe has proposed a line running from Washington, D.C. to New York City. Using technology already in use on a 27-mile line outside of Tokyo, the transit time between the two U.S. cities would be under an hour.

Abe says that Japan could loan up to half of the $10 billion price tag for the initial section of the line. When completed, the system would have express trains traveling from D.C. to New York with a single stop in Philadelphia and local trains that making stops more frequently along the coast.

Read more about the potential benefits and challenges of the project here.

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