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Link to LA Times article follows brief summary:
State-mandated panel concludes that the high-speed rail program 'is not financially feasible.' Gov. Jerry Brown's office signals that he isn't likely to be swayed by the findings.
By Ralph Vartabedian and Dan Weikel,
Los Angeles Times
January 4, 2012
Advertisement
In a scathing critique that could further jeopardize political support for California's proposed $98.5-billion bullet train, a key independent review panel is recommending that state officials postpone borrowing billions of dollars to start building the first section of track this year.
Gov. Jerry Brown has said he will ask the Legislature in the coming months to issue the first batch of $9 billion in voter-approved bonds for a high-speed rail network that backers say will create jobs, help the environment and transform the state's economy.
But in a report Tuesday, a panel of experts created by state law to help safeguard the public's interest raised serious doubts about almost every aspect of the project and concluded that the current plan "is not financially feasible." As a result, the panel said, it "cannot at this time recommend that the Legislature approve the appropriation of bond proceeds for this project."
Although the panel has no legal power to stop the project, its strong criticism, coupled with recent polls showing public opinion has shifted against the proposal, is giving some key political leaders pause.
here's link:
http://www.latimes.com/news/local/la-me-bullet-train-report-20120104,0,3258448.story
State-mandated panel concludes that the high-speed rail program 'is not financially feasible.' Gov. Jerry Brown's office signals that he isn't likely to be swayed by the findings.
By Ralph Vartabedian and Dan Weikel,
Los Angeles Times
January 4, 2012
Advertisement
In a scathing critique that could further jeopardize political support for California's proposed $98.5-billion bullet train, a key independent review panel is recommending that state officials postpone borrowing billions of dollars to start building the first section of track this year.
Gov. Jerry Brown has said he will ask the Legislature in the coming months to issue the first batch of $9 billion in voter-approved bonds for a high-speed rail network that backers say will create jobs, help the environment and transform the state's economy.
But in a report Tuesday, a panel of experts created by state law to help safeguard the public's interest raised serious doubts about almost every aspect of the project and concluded that the current plan "is not financially feasible." As a result, the panel said, it "cannot at this time recommend that the Legislature approve the appropriation of bond proceeds for this project."
Although the panel has no legal power to stop the project, its strong criticism, coupled with recent polls showing public opinion has shifted against the proposal, is giving some key political leaders pause.
here's link:
http://www.latimes.com/news/local/la-me-bullet-train-report-20120104,0,3258448.story