The whole system was supposed to be finished by 2022—at a cost of $33 billion. Now they are short billions—and just one segment is currently estimated to cost $35 billion—not to be finished till 2030-2033. What a joke. This scam has to end. Oh, to get the rest of the system finished, it will cost $100 billion—and that is lowballing. Worse, that could not be completed till 2050.
“KCRA-TV reports that California High Speed Rail Authority CEO Brian Kelly, in testimony before the state Senate Transportation Committee, said the project has $28 billion on hand for the segment between Madera and Merced; completion could cost $32 billion to $35 billion, depending on how long it takes to finish. Kelly is hoping federal funds will bridge the gap.
That segment expects to be operational between 2030 and 2033; there is no timeline for completing the full system, which is still waiting for environmental clearances for some portions.”
The FEDs are $34 trillion in debt, which is growing at a rate of $1.7 trillion a year. There is no money available for this payoff to unions, greedy corporations and special interests.
California high speed rail project faces $4-7 billion shortfall to complete first segment
By Trains Staff, Trains, 3/13/24 https://www.trains.com/trn/news-reviews/news-wire/california-high-speed-rail-project-faces-4-7-billion-shortfall-to-complete-first-segment/
Project could need up to $100 billion more to build out LA-San Francisco route
SACRAMENTO — The head of the California high speed rail project told state legislators Tuesday that the project looks to be $4 billion to $7 billion short of funds needed to complete the initial Central Valley segment, and may need as much as $100 billion more to build the full Los Angeles-San Francisco route.
KCRA-TV reports that California High Speed Rail Authority CEO Brian Kelly, in testimony before the state Senate Transportation Committee, said the project has $28 billion on hand for the segment between Madera and Merced; completion could cost $32 billion to $35 billion, depending on how long it takes to finish. Kelly is hoping federal funds will bridge the gap.
That segment expects to be operational between 2030 and 2033; there is no timeline for completing the full system, which is still waiting for environmental clearances for some portions.
“It’s been tough to fund a project with something that has an expiration date,” Kelly testified. “We’re doing it in building blocks. We’re giving you the portions we think we can get done with the funding we have.”
One senator asked Kelly how it would be possible to get public support “for something that has had this much of a downside funding wise?”
Kelly replied, “I think the only way you get the public is by performing better and I think the authority is performing better today than it was and I think it will going forward. I think it’s the right thing to do for the state and country. And yes, it’s a challenge. And just like when I worked on the Bay Bridge years ago, and you’re stuck in the middle of a very tough project, it feels impossible until it’s not and then you grind, you do the work, you perform better and you deliver.”
