SACRAMENTO, Calif (AP) – The California High-Speed Rail Authority is bumping its overall cost estimate for completing the rail line between San Francisco and Los Angeles to more than $80 billion. I
t blames inflationary increases and better cost projections for a $1.3 billion boost.
The project has had years of embarrassing cost overruns and delays. But managers insisted Wednesday that they are on pace to meet a preliminary 2022 federal deadline for laying track in the Central Valley.
However, that will use up virtually all the money the project now has available.
The authority’s latest business plan comes amid unrelenting pressure from state lawmakers.