Well, the wait is over. The (federal) funds will not be coming. FTA is now officially not going to send money, whether it's already approved or not. Consider it the transit equivalent of EPA's move to loosen emission standards. Just to make it clearer, this is what a federal agency that has decided to violate its organizing law and priciples looks like in the transportation realm.

For practical purposes, a transit or rail passenger agency that doesn't already have federal funds in the bank for its projects should plan on doing without. There will be no further federal funding for transit capital work, and given the trend a cutoff of operating funding/subsidies would not be surprising either.

If you can't afford to drive a car, better plan on walking or bicycling in the future. Uber/Lyft (e.g. private, at variable rates unregulated by anybody) is the future of transit, and trains will need to make money or die. The Mouse may get his wish.