January 15, 2014

Lawmaker proposes ending bond sales for Calif. HSR

SAN FRANCSICO — Reuters reported that California Assemblyman Jeff Gorell proposed a measure to halt bond sales for the state's planned high-speed rail system. The measure would ask voters, who in 2008 approved nearly $10 billion in state bonds to help fund the project’s construction, to reject further bond sales for high-speed rail.

The state's plan to sell bonds for project funding already suffered a setback when a judge in November ruled against plans to issue more than $8 billion in bonds for financing. For the full story, click here.

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  • Ron[ January 15th, 2014 @ 3:17pm ]

    HSR is a wasted investment. The fact that Loretta and Linda Sanchez support it, at any cost, is reason enough to be against it. But, there are many more reasons, including the fact that transit dollars should be dispersed widely for the masses, not just the very few entitled that will use a HSR line. In addition, the line will not be 'high speed' as advertised. It will also not be cheap to ride. Costs to maintain a California HSR Line would be enormous. It's just not sound planning nor economical.

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