California high-speed rail hits $126 billion estimate

California high-speed rail is facing mounting criticism. The state’s transportation secretary said some of the criticism was fair. Current estimates suggest the Los Angeles to San Francisco line will be difficult to complete.

In a 60 Minutes report, officials now put the cost at $126 billion. That is more than Amtrak has received from the federal government since 1971. It also far exceeds the $33 billion figure given to voters in 2008.

California high-speed rail cost and timeline

Nearly two decades later, the promise of a ride in under three hours has faded. The project is now delayed, downsized and far more expensive. Still, the earliest projected opening is now 2033.

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At the same time, there are still no tracks laid. In Fresno, the only place where the project is visible, locals mock it as “Stonehenge”.

“We’re now in 2026. There are no trains. There’s no track laid. It was a complete bait and switch,” Rep. Vince Fong told 60 Minutes.

“The California High-Speed Rail nightmare is the probably quintessential example of government waste and mismanagement.”

Central Valley segment and project criticism

California Transportation Secretary Toks Omishakin admitted ”mistakes have been made”. He also said some of the criticism was ”very fair.”

“I don’t think the voters fully understood and neither did we… what it was gonna take to actually get this project delivered,” he said.

By 2019, even Gov. Gavin Newsom had thrown cold water on the original vision. He said, “Right now, there simply isn’t a path… from San Francisco to LA.” His administration then scaled the project back to the Central Valley. That is a stretch few demanded and fewer are expected to ride. That Central Valley focus includes the stretch between Bakersfield and Merced. Separately, the state’s draft 2026 business plan puts the full system at roughly $126 billion.

Funding gap and federal support

Meanwhile, the full system is now estimated at roughly $126 billion. It leaves a funding gap of about $90 billion. Officials insist they will find the money. “The entire amount… not there today. But do we believe we can get those funds to get the– the project done?? Absolutely,” Omishakin said.

Also, federal funding has been yanked. As Railway Supply reported, critics blasted the project. They said it has “wasted billions in taxpayer dollars yet delivered nothing.”

For now, California’s high-speed rail project remains stuck between ambition and reality.

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