California High-Speed Rail Price Tag Explodes To $231 Billion
Summary
California’s high-speed rail project now has an estimated cost of $231 billion, much higher than the $33.5 billion voters approved in 2008. Lawmakers and officials are debating whether the project can be finished as planned given the funding problems and changes in the route and ridership estimates.Key Facts
- The original approved budget for the rail project in 2008 was $33.5 billion.
- New estimates show the cost rising to about $231 billion, nearly seven times higher.
- The project aims to connect San Francisco and Los Angeles but now runs inland through California’s Central Valley.
- Early plans promised trips under three hours, but key performance guarantees have weakened over time.
- Funding sources included federal money, state bonds, and private investment, but no new federal funds have been secured since initial allocations.
- Expected ridership has dropped from 95 million per year to about 36 million by 2060.
- State officials warn that the current budget is not enough to finish even the segment between Merced and Bakersfield.
- The California High-Speed Rail Authority calls this the largest public infrastructure project in the Western Hemisphere, with many miles under construction and heavy design work ongoing.
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