After years of preparation and work, Governor Jerry Brown’s finance department decided on Friday that 64 billion USD high speed rail project in California is ready to lay some track.
The rail authority’s request was approved by the administration to spend 2.6 billion USD on work at Central Valley. With the decision the rail authority can ask the state treasurer’s office to sell a portion of the nearly $10 billion in bonds, which voters approved in 2008 for a bullet train.
The high-speed train’s long term plan remains clouded because of uncertainty of funding. Help from the federal government is also required, which is controlled by Republican and does not support the project. Even private funding is needed, but none has been secured yet.
1.15 billion USD was issued previously that went for administration and on work to connect the new system to existing tracks, leaving a huge sum of money unspent.
While downplaying a Federal Railroad Administration risk analysis, ‘Finance Director Michael Cohen’ approved the Central Valley plan that included a worst scenario for the costs of the project.
Cohen cited the rail authority's more optimistic analysis and an independent consultant's review, which he found that the cost estimates and contingencies in this plan are reasonable.''
Brown’s administration includes the finance department and he is also a vocal advocate, so the Friday’s decision was not surprising.
Spokeswoman for authority, Lisa Marie Alley said, that they will ask the state treasurer to sell a portion of the bonds this spring to help pay for construction of 119 miles of rail in the Central Valley from Madera to Shafter.
Authority’s additional request for $600 million for Caltrain in the San Francisco Bay Area was delayed by Cohen. High-speed trains run on electrified rails, and the California authority's business plan calls for the two systems to share lines along the Peninsula Corridor in the Bay Area.
Republicans are pushing the administration to reject the application, to which the agency said that they are deferring a rule until the project is considered as part of President Donald Trump’s budget.
Although congressional Republicans oppose the plan, Trump has previously spoken positively about high-speed rail.
Flight disrupted due to mouse on board
AMandeep
