US sees no viable path for California High-Speed Rail project, may rescind $4 billion
June 4 (Reuters) - The Trump administration said Wednesday there is no viable path forward for California's High-Speed Rail project and warned it may rescind $4 billion in government funding in the coming weeks.
The U.S. Transportation Department released a 315-page report from the Federal Railroad Administration that cited missed deadlines, budget shortfalls and questionable ridership projections. One key issue cited is that California has not identified $7 billion in additional funding needed to build an initial segment between Merced and Bakersfield, California.
USDOT gave California until mid-July to respond and then the administration could terminate the grants.
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Recommended Articles
Featured Tools
Top News
Anthropic Revenue Surpasses OpenAI for First Time, IPO as Early as October

Meta Is About to Launch a Consumer-Facing AI Model, and OpenAI Is About to Have Its IPO, Making Now a Good Time to Buy Meta Stock

IonQ vs. Rigetti Computing: Which Quantum Computing Stock Has the Edge Now?

Memory Chips Drive Samsung Earnings Surge, But Stock Price Opens High and Closes Lower: Why?

Is Bitcoin Reaching a Local Top? Institutional Demand vs. Retail Sentiment at $70,000

Tradingkey







