In 2008, now 10 years ago, voters passed the 10 billion dollar Prop 1A bond measure to fund a High Speed Rail project that would, in phase one, connect San Francisco to Los Angeles, promising passengers a one-seat ride between these cites in 2 hours and 40 minutes.
The train was to run on dedicated tracks and was to be up and running by 2020. The projected cost of $33 billion was to be funded one-third by Prop 1A funds, one-third by Federal funds and one-third by private investment. The voters of California were promised that the $10 billions from Prop 1A bonds would be all the funding required from the State’s residents. Importantly the train was promised to run without any operational subsidy.
Now 10 years later, here is the reality. The train won’t be operational until well beyond 2030. The projected initial costs and timelines have been proven completely bogus. Now the Authority admits to even more delays. The last stated budget, now at $68 billion will climb again. Expect to see well over $100 billion.
Federal funding stopped long ago, at a total of $3.3 billion. Expected private investment despite multiple efforts, has failed to come forth at all.
http://www.foxandhoundsdaily.com/2018/02/failed-promise-high-speed-rail/