US will restore $1B for California's troubled high-speed rail project

WEBVTT FIRST STATE OF THE STATE TODAY. ONE OF THE BIGGEST SURPRISES-- HIS DECISION TO DOWNSIZE HIGH- SPEED-RAIL-- SAYING THE MONEY IS SIMPLY NOT THERE TO EXPAND THE SYSTEM STATEWIDE. THE PROJECT WAS FIRST APPROVED BY VOTERS WITH 9 BILLION DOLLARS IN BONDS. IT'S NOW EXPECTED TO COST BETWEEN 77 AND 98 BILLION DOLLARS... ACCORDING TO THE HIGH-SPEED-RAIL'S OWN BUSINESS PLAN. ACTION NEWS REPORTER MIKE LUERY WITH MORE ON WHY THE GOVERNOR US DE- RAILING THE EXPENSIVE BULLET TRAIN. nat/sot Newsom, at 111932 Let's level about High Speed Rail... GOV. NEWSOM TODAY PUTTING THE BRAKES ON THE EXPANSION OF CALIFORNIA'S BULLET TRAIN THAT IS BILLIOINS OF DOLLARS MORE EXPENSIVE THAN WHAT VOTERS FIRST APPROVED IN 2008. newsom clip at 111952 Let's be real. The project as currently planned, would cost too much and take too long. There's been too little oversight and not enough transparency. NEWSOM'S PLAN IS TO LIMIT HIGH SPEED RAIL TO CONSTRUCTION NOW UNDERWAY BETWEEN MERCED AND BAKERSFIELD ... AND THAT'S IT. jim Patterson Fresno Assemblyman, clip 62 at 120300 That was the most important takeaway here - finally we have an administration that will admit the truth ... FOR CRITICS OF HIGH- SPEED RAIL LIKE REPUBLICAN ASSEMBLYMAN JIM PATTERSON OF FRESNO.. THE CONCESSION THAT THE BULLET TRAIN WILL NOT BE BUILT STATEWIDE IS AN IMPORTANT VICTORY. jim Patterson, clip 62 at 120224 We do have a governor who finally has come to the realization that High Speed Rail is just not going to get completed. He admitted it today and unfortunately we've known this for a couple of years now. NEWSOM PLEDGED TODAY TO HOLD CONTRACTORS ACCOUNTABLE FOR SPENDING.. AND NAMED A NEW CHIEF FOR THE PROJECT. ON TWITTER TODAY, HIGH SPEED RAIL TWEETED: graphic here of HSR CALIFORNIA HIGH SPEED RAIL IS ALREADY DELIVERING MAJOR ECONOMIC IMPACT FOR THE PEOPLE AND BUSINESSES IN THE CENTRAL VALLEY AND WILL CONTINUE TO DO DO UNDER THE DIRECTION LAID OUT BY @CAGOVERNOR GAVIN NEWSOM TODAY. ## MIKE

The federal government has reached an agreement to restore nearly $1 billion in funding for California's troubled bullet train, Gov. Gavin Newsom announced. >>Video from previous broadcast. The U.S. Department of Transportation finalized settlement negotiations to restore the money for the high-speed rail project that was revoked by the Trump administration in 2019, Newsom said Thursday night.The restoration of $929 million in grant funding "will continue to spur job creation, advance the project and move the state one step closer to getting trains running in California as soon as possible," Newsom said in a statement. California voters in 2008 approved nearly $10 billion in bond money to build a high-speed rail line connecting Los Angeles and San Francisco that was supposed to be running by 2020. But the project was plagued by cost overruns and delays. Officials now hope to have trains running on a segment through the state's central valley agricultural region by 2029.Critics have derided the segment as a "train to nowhere," but supporters say it's a necessary test and precursor to linking more populated areas.The project's business plan anticipates environmental approval for the 500 miles between Los Angeles and San Francisco by 2023. Completion of the full line depends on funding and other unknowns.Newsom last month unveiled a budget proposal that includes $4.2 billion for the project, including the bond money approved by voters in 2008.

The federal government has reached an agreement to restore nearly $1 billion in funding for California's troubled bullet train, Gov. Gavin Newsom announced. >>Video from previous broadcast.

The U.S. Department of Transportation finalized settlement negotiations to restore the money for the high-speed rail project that was revoked by the Trump administration in 2019, Newsom said Thursday night.

The restoration of $929 million in grant funding "will continue to spur job creation, advance the project and move the state one step closer to getting trains running in California as soon as possible," Newsom said in a statement.

California voters in 2008 approved nearly $10 billion in bond money to build a high-speed rail line connecting Los Angeles and San Francisco that was supposed to be running by 2020.

But the project was plagued by cost overruns and delays. Officials now hope to have trains running on a segment through the state's central valley agricultural region by 2029.

Critics have derided the segment as a "train to nowhere," but supporters say it's a necessary test and precursor to linking more populated areas.

The project's business plan anticipates environmental approval for the 500 miles between Los Angeles and San Francisco by 2023. Completion of the full line depends on funding and other unknowns.

Newsom last month unveiled a budget proposal that includes $4.2 billion for the project, including the bond money approved by voters in 2008.

US will restore $1B for California's troubled high-speed rail project

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