Scott announced earlier today that he was rejecting the money  because he believed the state could be on the hook for as much as $3 billion in cost overruns. Additionally, he said he was skeptical ridership would pay for the line's operating costs.

Nelson said earlier today that rejecting the federal investment amounted to "turning down 24,000 jobs, when we badly need them," the Miami Herald reports.

Republican Rep. John L. Mica, chairman of the House Transportation and Infrastructure Committee, called the decision "a huge setback for the state of Florida, our transportation, economic development and important tourism industry."

The governor's decision is a significant snub at the Obama administration, which recently unveiled a major plan to spend $53 billion over six years on developing high speed rail lines across the country. White House Press Secretary Jay Carney said today that the administration believes high speed rail projects will help create jobs and create the infrastructure "that allows us to compete in the 21st century."