March 8, 2011

Fla. could owe feds millions for high-speed rail

JACKSONVILLE, Fla. — U.S. Sen. Bill Nelson (D-Fla) said the current plan to construct a high-speed rail line between Orlando and Tampa will not cost the state any money. However, if the state cancels the project, it will have to reimburse $110 million to $130 million to the federal government, The Florida Times-Union reports.

Gov. Rick Scott, who just won a ruling in the Florida Supreme Court to turn away $2.4 billion in federal funds for the rail line, claims the project will end up costing more than $2.7 billion and the state will have to pay for cost overruns. Still, the legislature has already approved spending $130 million for the project. For the full story, click here.

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