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Home / News & Reviews / News Wire / California budget earmarks $4.2 billion for high speed rail NEWSWIRE

California budget earmarks $4.2 billion for high speed rail NEWSWIRE

By Dan Zukowski | January 13, 2020

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Califhighspeed
Califhighspeed

SACRAMENTO, Calif. — California Gov. Gavin Newsom’s proposed 2020-2021 budget would provide $4.2 billion for the state’s High Speed Rail Authority over five years.

“The High Speed Rail Authority is continuing to construct the Central Valley segment completing electrified High Speed Rail from Merced to Bakersfield with Proposition 1A bonds, federal funds, and 25 percent of the continuously appropriated funding from annual Cap and Trade auction proceeds,” the budget document states.

There is no mention of the U.S. Department of Transportation’s decision to cancel a $928 million grant or its intent to retrieve $2.5 billion it had previously committed to the project, nor is there any mention of funds to build the high speed line beyond the Central Valley.

The five-year budget plan would provide no funds to the Authority in the first fiscal year, $291 million in year two and $3.9 billion in year five, with years three and four unfunded.

In addition, $5 billion is designated for public transit throughout the state and $3.3 billion for the State Transportation Improvement Program, which provides funds for multi-modal investments. An additional $1 billion is available for partnerships with local transportation agencies. All are five-year plans.

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