From DanCALmatters: Costs keep rising for California’s bullet train project, but the officials who manage it can’t tell us how it will be financed
Costs keep rising for California’s bullet train project, but the officials who manage it can’t tell us how it will be financed.
Construction crews have only begun to build roadbed for the San Joaquin Valley segment and no track has been laid. Optimistically, it will be almost a decade before passengers can ride on it.By clicking subscribe, you agree to share your email address with CalMatters to receive marketing, updates, and other emails.The rail authority pumps out revisions to its business plan each year, almost always raising projected costs but never laying out realistically how they will be covered.
The rail authority and Gov. Gavin Newsom want the Legislature to commit the remaining $4.2 billion in bond money to keep construction going in the San Joaquin Valley and make plans for later expansion. However, legislative leaders have balked, saying spending it on the bullet train would be a waste and demanding that the money be diverted into better commuter rail service in Southern California.
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