LAO Calls New High-Speed Rail Plan ‘Highly Speculative’
SACRAMENTO, Calif. (AP) — The state’s nonpartisan analyst says the latest proposal to build a $68.4 billion high-speed train system linking Northern and Southern California is still too vague.
The latest business plan trimmed the cost from an estimated $98 billion last year, but leaves it well above the $45 billion estimate given to voters in 2008 when they approved selling nearly $10 billion in bonds.
The LAO recommends that lawmakers reject Gov. Jerry Brown’s request to start selling $2.6 billion in bonds to start construction.
The proposal puts completion of a 520-mile San Francisco-to-Burbank system in 2028.