Monday, July 9, 2012
Calif legislature approves $8 bil towards bullet train
The California state legislature narrowly approved approximately $8 billion to be allocated towards the first phase of a $68 billion passenger bullet train project.
The high-speed rail project that is slated to end up stretching 130 miles from Sacramento and the San Francisco Bay Area running as far south as San Diego reportedly faces several regulatory hurdles and lawsuits from agricultural interests in the Central Valley – a key thoroughfare for the passenger train.
The state senate’s 21-16 vote included authorization of $2.6 billion in state bond funds for trackage from Madera to Bakersfield, with $3.2 billion coming from the federal government.
"The Legislature took bold action today that gets Californians back to work and puts California out in front once again," said Governor Jerry Brown said in a statement.
The bullet train project was initially pegged at a cost of $33 billion with completion by 2020 state voters approved borrowing $9.9 billion in 2008 before the U.S. recession hit its lowest point. The pricetag has since more than doubled with a finish date of 2028.
A Los Angeles Times poll in May revealed that 59 percent of voters would reject the plan if it were placed back on the ballot.
For the full L.A. Times story: www.latimes.com
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