Sen. Barack Obama leaves a whistle stop rally at the Paoli Rail Station April 19, 2008 in Paoli, Pa

In a contest that shattered racial barriers, Democrat Barack Obama has been elected the first African-American president of the United States.

With polls now closed, the 47-year-old first-term senator from Illinois has captured the key states of Florida, Ohio, Pennsylvania, Colorado and California. Those wins, combined with a slew of other states, have given him 338 electoral votes so far, more than enough to defeat Republican rival John McCain by a 52% to 47% margin.

Sen. Ted Kennedy said Americans "spoke loud and clear" in electing Obama. "They understood his vision of a fairer and more just America and embraced it. They heard his call for a new generation of Americans to participate in government and were inspired. They believed that change is possible and voted to be part of America's future," the Massachusetts senator said in a statement.

The Obama administration also will be pushed by passenger rail advocates and freight railroads to fund expansion. Union Pacific and other carriers will renew their push for a federal tax credit they say would allow them to add freight rail infrastructure, rail executives have said. Vice President-Elect Joseph Biden is a commuter on Amtrak, the U.S. passenger railroad, and has pushed for more money for the Washington-based rail service during his Senate career.

View President-elect Obama's acceptance speech.