As contractors hoped, CA sets funding for high-speed rail
- A funding plan that was backed by contractors who want to build California's high-speed rail line was in the state budget that the Legislature passed this week.
- The budget allocates the project a third of the annual state revenue collected from the heaviest air polluters, which is estimated to be $850 million in the coming year, or about $280 million for rail construction.
- Nine large firms wrote to lawmakers supporting the deal, according to an Associated Press report.
The funding plan for the line from Los Angeles to San Francisco came over strenuous Republican objections, which may affect federal grant funding in the future. The allocation gives the line a revenue stream, however, which supporters say will allow borrowing federal funds or might attract private investment.
- San Jose Mercury News California Legislature passes $108 billion budget
- CityLab.com California High-Speed Rail Finally Finds the Funding It Needs