Board approves California bullet train’s 2018 business plan
SACRAMENTO, Calif. (AP) — California’s high-speed rail board has approved a 2018 business plan that outlines the challenges in completing the ambitious project to build a bullet train between Los Angeles and San Francisco by 2033.
The board’s Tuesday vote comes after two months of comments from lawmakers and the public.
The plan has been updated since it was introduced in March to include a starker assessment of the funding picture and a slight decrease in ridership and revenue projections. The state is far short of the $77 billion price tag to complete the project.
Its leaders want lawmakers to set up a financing plan against the cap-and-trade program, which charges polluters to release greenhouse gas emissions.
Board Chairman Dan Richards says he’s confident the project will be completed.