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FUNDING SOURCES FOR HIGH-SPEED RAIL PROJECT

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POSTED January 10, 2014 9:26 p.m.

 

California's high-speed rail project is continuing despite legal rulings that have held up a large source of its revenue. Funding for the project, which has a current price tag of $68 billion, is supposed to come from the following sources:

— $8.6 billion remaining in voter-approved bonds. This money, which voters approved in 2008, is held up after a judge declined to grant a broad request to sell the remaining bonds. The state has tapped $700 million of the $9.9 billion approved by voters to date, about $400 million of it directly for high-speed rail.

— $3.6 billion in federal matching funds. High-speed rail officials are tapping this funding while the state bond money is tied up in court as part of a revised agreement that allows the state to spend the federal money first.

— Gov Jerry Brown wants to take $250 million from California's cap-and-trade program and use it for high-speed rail planning.

 

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