8/01/2019

Off-Schedule and Over-Budget, California’s Bullet Train Is In Big Trouble

"The San Joaquin segment was supposed to be finished by 2022, and the whole enchilada by 2029. But it’s not looking good, and if that first deadline is missed the state could be exposed to the clawback of up to 3.5 billion in federal funds awarded the project in 2010as part of the Obama administration’s economic stimulus program. And the project is already looking at an estimated total cost (expected to continue to go higher) of $77 billion. Things have steadily gone south since California voters authorized the initiative in 2008, as Los Angeles Times columnist Steve Lopez recently observed:

In 2008, voters approved what was supposed to be a $33-billion railroad completed by 2020. Today — and check back tomorrow, because these numbers could change — the cost has exploded to an estimated $77 billion and the current completion date estimate is 2033."