From TrainSpottingWorld, for Rail fans everywhere
- January 1 - The Portola Railroad Museum, in California, is reorganized as the Western Pacific Railroad Museum.
- January 3 - Officials with the Virginia and Truckee Railroad hold a "silver spike" ceremony in Carson City, Nevada, to commemorate the completion of two miles of track restoration near Gold Hill.
- January 5 - A northbound Virginia Railway Express train on CSX tracks derails near Quantico, Virginia, as a result of a worn and chipped switch point rail.
- January 6 - China's railway minister Liu Zhijun announces a 160 billion yuan plan to begin more than 80 new railway projects, many of which are focused on high-speed rail services.
- February 20 - Chicago Transit Authority begins work on a capacity expansion project for the Chicago 'L''s Brown Line.
- The Tasmanian Government grants Derwent Valley Railway $60,000 to help them with their financial difficulties after the line was closed in 2005.
- Pacific National comes to a new agreement with the Tasmanian Government which included returning all tracks and rail lands to Government ownership, allowing restoration of service on the Derwent Valley Railway.
- June 26 - Amtrak's northbound City of New Orleans passenger train encounters a section of misaligned track near Arcola, Louisiana; the engineer was able to slow the train enough that it did not derail as it traversed the misalignment.
- July 1 - Operations begin on the Qingzang railway between Golmud, China and Lhasa, Tibet.
- July 11 - A northbound Chicago 'L' Blue Line train derails in the subway between the Clark/Lake and Grand/Milwaukee stations in downtown Chicago; 152 of the trains almost 1,000 passengers are treated for minor injuries.
- The Keystone Corridor in Pennsylvania is upgraded with two segments of 110 mph operation between Philadelphia and Harrisburg.
- Tomy introduces its second series of Thomas the Tank Engine wind-up toys.
- Killington Lane railway station on the preserved Lynton and Barnstaple Railway opens.
- Railroad Accident Brief: Derailment of Virginia Railway Express train near Quantico, Virginia January 5, 2006. United States National Transportation Safety Board (2006-11-20). Retrieved on 2008-01-05.
- Railroad Accident Brief: Operation of Amtrak Passenger Train Over CN Misaligned Track, Arcola, Louisiana, June 26, 2006. United States National Transportation Safety Board (2006-12-21). Retrieved on 2008-01-06.
- Railroad Accident Report: Derailment of Chicago Transit Authority Train Number 220 Between Clark/Lake and Grand/Milwaukee Stations Chicago, Illinois, July 11, 2006. United States National Transportation Safety Board. Retrieved on 2008-01-06.