Subcommittee hears warnings about high‑speed rail cash‑flow and borrowing risks
Members pressed Finance, LAO and witnesses about the fiscal outlook for California High‑Speed Rail; LAO and DoF said the project faces near‑term cash‑flow stress and borrowing needs, with the Inspector General noting omitted costs and scope concerns in the business plan.
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Senators questioned whether the Greenhouse Gas Reduction Fund is an appropriate revenue source to support near‑term borrowing needs for California High‑Speed Rail and whether the project’s business plan fully accounts for borrowing costs.
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