April 16, 2014

Calif. HSR adopts new business plan, lowers revenue projection

SACRAMENTO, Calif. — The California High-Speed Rail Authority board of directors approved a new business plan to submit to state lawmakers last week, the AP reported.

The new plan includes lower revenue projections but retains the 2028 timeline for finishing the $68 billion project, despite legal issues that could potentially cause delays.

The lower revenue projection — 5% lower than originally projected by 2025 and 10% lower by 2040 — was prompted by research that shows that Californians are taking shorter but more frequent trips. The authority told the AP that it still will be able to operate without taxpayer subsidies. For the full story, click here.

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