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High‑speed rail authority presses for stable funding; inspector general flags Merced‑to‑Bakersfield as critical
Summary
The High‑Speed Rail Authority sought continued multiyear funding in the May Revision and discussed securitization and private investment. The authority said $1 billion per year would enable progress; the inspector general and LAO said remaining gaps, schedule risks and right‑of‑way issues require more detail before legislative reauthorization.
The High‑Speed Rail Authority and the governor's team urged the Assembly Budget Subcommittee to support an ongoing funding commitment to finish a Merced‑to‑Bakersfield initial operating segment, while the authority’s new inspector general and the Legislative Analyst’s Office cautioned that key cost, schedule and right‑of‑way risks remain.
CEO Ian Choudhury told the panel the authority's reassessment set an updated cost range for Merced‑to‑Bakersfield at roughly $34.9 billion to $38.5 billion and that a dedicated funding stream of at least $1 billion annually (the governor’s May Revision proposal) would allow continued progress and create options for financing and private‑sector participation. "Sustained and stable support is critical," Choudhury said, and…
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