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News Link • Transportation

No One Knows Where The Money Will Come From For California's $68 Billion High Speed Rail Plan

•, AP
 SACRAMENTO, Calif. (AP) — Supporters of California's ambitious high-speed rail project began their hard sell with lawmakers and the public Monday after releasing an updated business plan that scales back the scope of the project and speeds up construction to save money, but still relies heavily on speculative funding sources that might never materialize.

In addition to money from voter-approved bonds and startup funds from the federal government, the plan hinges on receiving billions more from a skeptical Congress, fees from an untested cap-and-trade system that is at the heart of California's effort to reduce greenhouse gas emissions and unnamed private investors to jump aboard and risk their own money once construction begins.

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