By Ramsey Cox
Rep. Jeff Denham (R-Calif.) said that if California can’t find $55 billion its high-speed rail project is a “pipe dream.”
“The California High Speed Rail Authority faces a $55 billion funding gap and has yet to demonstrate any ability to generate the funds required,” Denham said on Tuesday. “Unfortunately, they can’t work around their funding gap, and without $55 billion, the high speed rail project remains a pipe dream.”
His comments came one day after the federal Surface Transportation Board (STB) authorized construction of the second leg of the high-speed rail line, which would operate between Fresno, Calif., and Bakersfield, Calif.
The first leg of the project is a $68 billion line connecting San Francisco and Los Angeles.
California Gov. Jerry Brown (D) has proposed using cap-and-trade revenue from taxing carbon emissions in the state for funding part of the high-speed rail projects, but this year only $250 million has been allocated.