California’s high-speed rail project has again come up short, needing an additional $7 billion by June 2026, and lawmakers are seeking solutions as continued federal support remains in peril, according to a budget hearing held on March 26.
The money is needed by June 2026 to begin the long-delayed project’s first stretch through the state’s central region from Merced to Bakersfield—which is about one-third of the route.
“There’s about a $7 billion gap between projected funding and costs,” legislative analyst Helen Kerstein told the Assembly Budget Committee, adding that there is “no specific plan” to cover the deficit. “We also think there’s some risk that the gap could grow.”
The total estimated cost for the Merced-to-Bakersfield segment is $35.3 billion, according to the legislative analyst. Federal funds were expected to pay for one-fifth of that, but that money is in jeopardy following the start of a federal investigation into the project’s budget.
A loss of federal funds would add billions more to the deficit, according to lawmakers. […]
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What a total waste of time and money.