As things stand there is $9.95 Billion dollars in Bonds for High Speed Rail as well as $3.4 Billion from the Federal Government. From the Bond money $1.9 billion is for projects outside of the San Joaquin Valley including transit projects, positive train control and track upgrades to existing rail services. The Cap and Trade funding the Governor is talking about for High Speed Rail would go towards the $10 billion needed to extend track construction south of Bakersfield to Palmdale and “bridge the gap” between Northern and Southern California by passenger rail. There is $4 billion left for this in the Bond money which leaves $6 billion that might come from Cap and Trade. So what would happen if we cancel the High Speed Rail Project tomorrow? We would throw away the Federal Funding for starters. The Bond money would be gone too. NB
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