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High‑speed rail authority says Merced‑to‑Bakersfield can be completed within revised cost range; lawmakers press for more detail
Summary
High‑Speed Rail Authority staff told the Senate budget subcommittee the Merced‑to‑Bakersfield cost is now estimated between $34.9 billion and $38.5 billion and defended the authority’s plan to use a predictable multiyear funding stream as a financing foundation.
The California High‑Speed Rail Authority (HSRA) provided the Senate Budget Subcommittee No. 5 an updated cost estimate for its Merced‑to‑Bakersfield segment and answered lawmakers’ questions about a May Revision proposal that would guarantee at least $1 billion per year for the program under a cap‑and‑invest reauthorization.
HSRA Chief of Staff Mark Tolleson told the committee the Authority has produced a new bottom‑up estimate for Merced‑to‑Bakersfield: “we do have updated numbers for that Merced to Bakersfield segment. So at this point we do have updated numbers for that that we have shared with the committee. So we are looking at a $34,900,000,000 at the low end to $38,500,000,000 on the high end to complete that segment,” he said on the record.
HSRA finance and legal witnesses and the LAO described how the administration’s proposed $1 billion annual floor…
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