Senate Holds Fiery HSR Hearing
Senate Holds Fiery HSR Hearing 04/18/12 Filed in: High-Speed Rail On April 18, Budget Subcommittee #3 conducted a hearing on High-Speed Rail. Chairman Joe Simitian asked many pointed questions as to the viability of the proposed 130 mile Central Valley project. Compelling testimony from the Legislative Analysts’ Office cast strong doubts on assertions in the HSRA Business Plan that the Authority would be able to access cap and trade revenues as a backstop for 20+ billion in missing funding for its Initial Operating Section (IOS). Without a fully-funded IOS, opponents of the Central Valley project assert that the Authority cannot…