This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies By closing this message or continuing to use our site, you agree to our cookie policy. Learn MoreThis website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
Home » California High-Speed Rail Plan Faces Funding Deadline
A key financial deadline is looming for California's $68-billion high-speed-rail project. The California High-Speed Rail Authority is due to make a $63-million matching payment on April 1. But a 2013 Superior Court ruling has blocked the state, at least for now, from using its preferred source: selling bonds that voters approved in 2008's Proposition 1A. The state and federal government are sharing the project's cost.
On Capitol Hill, House railroads subcommittee Chairman Jeff Denham (R-Calif.) introduced a bill on Jan. 16 that would suspend federal funds for the program until the state certifies it has non-federal sources for the matching funds. Denham said at a Jan. 15 hearing, "Frankly, after five years filled with cost overruns, lawsuits, lost promises of immediate job creation and reduced expectations, unless they can come up with a viable plan that meets the requirements of Prop 1A, I believe it's time to end this project."