The High-Speed Rail Project in California will get $1 billion annually up to 2045 under the state’s cap-and-trade program, providing certainty for legislators and investors while funds from Washington continue to be in limbo. The move solidifies pledges and assuages the near-term future of the project.

California High-Speed Rail Project secures long-term state funding
Photo: Rich Pedroncelli / Associated Press

This is reported by the railway transport news portal Railway Supply.

High-Speed Rail Project in California experiences financial and political hurdles

Officials emphasized the fact that the deal ensures the 171-mile Merced-Bakersfield line gets completed by 2033. The deal fills in funding gaps and facilitates public-private partnerships and is important for long-term development around the entire state, according to CEO Ian Choudri.

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But challenges persist. The 2020-completion project hasn’t even finished one stretch. The cost ballooned from the original $33-billion estimate to $100 billion. The Republican lawmakers’ opposition persists and even a couple of the Democrats express doubts.

Los Angeles transportation and Central Valley advancements

Construction remains concentrated in the Central Valley, creating 15,000 jobs and injecting $14 billion in the local economy. The High-Speed Rail Authority announces next links bound for Gilroy and Palmdale and regional transit closing the missing links to San Francisco and Los Angeles.

In parallel, Los Angeles legislators push for statewide funding more evenly balanced. They requested $3.3 billion annually from cap-and-trade for the Los Angeles-region bus and rail expansion, citing urgent needs for leadership on climate, congestion easing, and expanded access.

In addition, Sen. Lola Smallwood-Cuevas supported investment in the Los Angeles County transit mainly because millions ride the region’s Metro, Metrolink, and buses daily. Ridership recovery is not yet substantial without more vigorous investment even as the region experiences pre-pandemic traffic in the freeways.

What is the current status of the California High-Speed Rail Project?

The California High-Speed Rail Project is advancing with $1 billion annually from the state, ensuring completion of the Central Valley segment by 2033 while long-term expansion plans remain under discussion.

Why does Los Angeles require additional transit funds?

Los Angeles officials contend that even while the state emphasizes high-speed rail development, near-term investment in the Los Angeles region’s Metro system, buses, and regional connectors is necessary in addressing the county’s largest in the country’s equity, climate, and congestion challenges.

How much was spent to date on the California high-speed project?

An estimated $14 billion was spent, largely in the Central Valley, and 15,000 jobs were created. But the overall price tag now tops $100 billion and has ignited political controversies about the project’s future.

Source: www.latimes.com

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