(KMJ) California’s controversial bullet train is apparently running on fumes and may be out of cash before finishing its first segment in the Central Valley.
That warning comes from the state’s nonpartisan Legislative Analyst’s Office and the Inspector General, who recently briefed lawmakers during an oversight hearing.
The state Inspector General told legislators that construction costs are rising faster than the project’s main funding source — which could leave the project unable to cover bills, weakening the state’s position as it seeks private investment to keep the project moving.
The rail authority released a new business plan last month which warned its facing a $2 Billion funding gap to complete the first segment linking Bakersfield and Merced.
