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Plan cuts California high-speed rail plan cost

(Source: Reuters, April 2, 2012)

LOS ANGELES — California officials on Monday unveiled a major overhaul of a controversial plan to build a high-speed rail system in the state, slashing the cost by some $30 billion, to $68.4 billion, and addressing other criticisms of the massive project.

The new plan must now receive a final blessing from the California High Speed Rail Authority before going to the state legislature, which has to approve the release of the first chunk of the nearly $10 billion in rail bond funds voters approved in 2008.

Full story: Reuters

Monday, April 9, 2012

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