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California High-Speed Train May Cost Billions More Dollars Thanks to Delays and Inflationhttps://www.theepochtimes.com/california-high-speed-train-may-cost-billions-more-dollars-thanks-to-delays-and-inflation_2634486.htmlThe California high-speed rail project is reportedly facing possibly billions of dollars in extra cost because of delays and inflation, according to Los Angeles Times.
The high-speed rail was planned to connect 8 of the 10 largest cities in California. Supporters said that upon completion, it would take less than 3 hours for people traveling from San Francisco to Los Angeles at the speed of 220 miles per hour.
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“When the voters of California approved Proposition 1A to fund this project, they thought they were approving a $33 billion project that would receive equal parts financing from the state, federal government, and private investors,” said Jeff Denham, Chairman of the House Subcommittee on Railroads, Pipelines, and Hazardous Materials, in a statement.
“However, since then, costs rose to $43 billion, and now the total cost is estimated up to $100 billion, but without immediate connections to San Diego or Sacramento.”
“If this project is going to move forward and the Authority is going to continue to ask for more taxpayer dollars,” said Denham, “we need to know what those funds or financing would be buying. If the Authority can’t provide specific deliverables and a timeframe, then I believe it would be time for Californians to go back to the polls to vote on whether to continue this project.” Read more here. |