Steel tracks are doing just fine in the US, thank you very much, with minimal governmental involvement. Our rail system is the envy of the world, and has been getting new investment to the tune of $25 billion a year of late. This is why Berkshire Hathaway bought BNSF, so they could have a place to reinvest billions of dollars of profit and earn a return.
All freight rail, of course.
Mind you, regulatory creep threatens this. The FRA has been pushing for "safety" rules which are basically handouts to labor unions (requiring extra headcount per train), and Positive Train Control's top-down bureaucracy-driven technology-solutioning has been a comedy of errors, but the real threat they're facing is the potential of a mandate to make all freight trains make way for passenger trains. which no one will use.
If anything, the Trump administration will be much better for steel rails than the past eight years. Still freight rails, of course. But unlike theoretical passenger rail proposals, these ones are already popular and profitable and reducing carbon emissions.