Amtrak, previously blocked from receiving federal money for high-speed rail, is now in the running for a big chunk of the $2 billion in funds freed up by Florida's decision to cancel a fast-train project earlier this year.

The federally subsidized railroad, formally the National Railroad Passenger Corp., is lobbying for $1.3 billion in federal money to upgrade service on its Northeast Corridor between Boston and Washington so that trains could eventually reach 160 miles an hour. Amtrak's fastest Acela trains now average 85...