California Governor Pulls Plug On Statewide High-Speed Rail Project

Zero Hedge | 2/11/2019 | Staff
monna (Posted by) Level 3
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California won't be building a high-speed rail line between San Francisco and Los Angeles after all, as Governor Gavin Newsom (D) announced on Tuesday that the project would "cost too much and, respectfully, take too long."

"We face hard decisions that are coming due," said Newsom. "The choices we make will shape our future, and the future of quite literally millions, for decades to come."

Project - Type - Transportation - Centerpiece - Alexandria

The project - the type of transportation centerpiece included in Alexandria Ocasio-Cortez's so-called "Green New Deal," was slated to cost California taxpayers approximately $77 billion, with a completion date of 2033.

Newsom says that instead of a statewide system, he wants the high-speed rail line to go from Merced to Bakersfield along California's Central Valley, which he says could bring an economic transformation to the state's agricultural region.

Project - State - Dollars

Totally abandoning the project would require the state to return $3.5 billion of federal dollars.

In 2008, California voters approved a $10 billion bond for a bullet train between San Francisco and Los Angeles. The state finally broke ground in 2015 on a 119-mile segment...
(Excerpt) Read more at: Zero Hedge
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