This rendering of the Fresno high-speed rail station dates to 2013. Image via HSR Rail Authority.
Written by The Business Journal Staff
Sen. Jeff Stone (R-Riverside County) has introduced a bill that would cease funding for California’s high-speed rail project.
SB 340 would prohibit the state from selling any further bonds through the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century, approved by voters in 2008.
SB 340 will also provide that the unspent money pay off the debt incurred from the issuance and sale of the outstanding bonds.
“California’s High-Speed Rail is nothing more than the construction of an unsustainable and unachievable boondoggle dream,” said Senator Stone. “Voters approved this project with the hope of funding economic transformation. The state has instead mismanaged billions of dollars to deliver what is nothing more than a train track that may sometime connect Merced with Bakersfield.
“The Governor has rightfully admitted the promises made to voters in 2008 when they narrowly approved Proposition 1A have been broken, and it seems clear now is the time to cut bait and admit the fantasy has failed,” Senator Stone added. “We should stop throwing taxpayer dollars down the drain.”
SB 340 is currently awaiting referral to the proper Senate policy committee for consideration.