Emergency Rail Transportation Improvement and Employment Act

[AI summary unavailable — showing source text] Emergency Rail Transportation Improvement and Employment Act - Declares it to be the purpose of this Act to authorize the Secretary of Transportation in consultation with the Secretary of Labor to provide financial assistance to eligible applicants, for programs aimed at reducing unemployment and at repairing, rehabilitating, or improving essential railroad roadbeds and facilities. Directs the Secretary of Transportation to provide financial assistance in the form of grants to eligible applicants for projects that involve the repair, rehabilitation or improvement of railroad roadbeds and facilities that best fulfill specified objectives. Provides that such grants shall be expended for the payment of wages. Authorizes the Secretary to provide financial assistance to eligible applicants for materials and equipment assistance, upon assurances that other financing is not available. Sets forth guidelines and procedures for grant and other financial assistance applications. Sets forth employment priorities applicable to projects financed under this Act. Authorizes to be appropriated $600,000,000 for the payment of wages, $100,000,000 for materials and equipment assistance, and $7,000,000…