State Senate President Steinberg’s proposal might look like a setback for High Speed Rail since this proposes less direct funding from Cap and Trade than what the Governor was proposing. But the Cap and Trade funding for High Speed Rail is “securitized” as propsed, that means the High Speed Rail Authority could leverage the Cap and Trade funds with bonds to greatly increase funding. This could be the basis of a financial plan needed to release Prop 1A funds for High Speed Rail to build the 300 mile Initial Operating Segment (IOS). NB
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