As the state faces economic headwinds, California’s mega high-speed rail project between San Francisco to Los Angeles also faces major funding hurdles, the project’s CEO Brian Kelly told state lawmakers Tuesday.
Kelly testified in front of the State Senate’s Transportation Committee on the High-Speed Rail Authority’s updated draft business plan. [emphasis, links added]
In Tuesday’s hearing, Kelly told lawmakers the project has $28 billion on hand, but noted it was still a few billion dollars short to complete the Central Valley segment between Merced and Bakersfield.
Depending on how long the segment takes to finish, it could cost between $32 Billion to $35 billion.
Kelly said the project is hoping to fill the gap with federal funds. That segment of the project is expected to be fully operational between 2030 and 2033, Kelly said.
Project leaders estimate it will still need an additional $100 billion to finish what voters were originally pitched in 2008: a bullet train that runs between San Francisco and Los Angeles.
A timeline for its completion has not been set as the authority waits for environmental clearances for those segments.
“It’s been tough to fund a project with something that has an expiration date,” Kelly noted. “We’re doing it in building blocks. We’re giving you the portions we think we can get done with the funding we have.”
Kelly told lawmakers he’s encouraged by an ongoing discussion with the Biden administration on establishing a railroad trust fund, and recent funds it received through the Bipartisan Infrastructure Act. Kelly said the project needs a strong, long-term federal partner.
State Senators on both sides of the aisle expressed serious concerns about the funding gap.
Democratic State Senator Ben Allen noted a significant portion of the state’s funds meant to reduce greenhouse gas emissions are going toward the project.
Republican State Senator Kelly Seyarto said, “The air is being sucked out of the room by this one project.”
“How do we get the public on board with something that has this much of a downside funding-wise?” Seyarto asked.
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