Hurdle For High-Speed Rail: Where Is The Money?
SACRAMENTO (AP) — Court rulings this week cast doubt over the future of California’s $68-billion high-speed rail plan and serve as a reminder of the biggest question facing the project: Where will the money come from to complete it?
So far, state and federal sources account for less than 20 percent of the total price. The current plan relies on vague funding from “federal, state, local and private sources.”
The plaintiffs in the case say the state has not identified the source of the $31 billion needed to complete the first full phase. In rulings issued Monday, a Sacramento County judge ordered a new funding plan from the rail authority.
Jeff Morales, the authority’s director, says a revised plan might fall short of identifying all funding sources, likely renewing the court fight.
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