The CEO of the California High Speed Rail Authority expressed confidence in the project despite billions of federal grant money possibly going away. “We’re not stopping,” said Ian Choudri, the project CEO. “This is now at a place that we are not changing our path.”President Donald Trump threatened to pull $4 billion in federal dollars away from the project. His administration has attacked the project as a waste of tax dollars. Drew Feeley, the head of the Federal Railroad Authority, called the project a “119-mile track to nowhere.”However, during a conference of the American Public Transportation Association in San Francisco last week, Choudri said they have a plan to push on despite doubts from the federal government. He says the plan is to have the state fund it more. He said doing so would allow for private equity to invest in the project.“We are talking with the administration and California legislature to step up more,” he said. “Funding through whatever the program they would like to look at, so that we can finance against it and keep building.”Choudri said investors need to see consistent funds in order for them to put money into the project. He says if they secure enough private investment, the system could get built faster.”It will accelerate the construction,” he said. “The end result we are looking for get to the population centers faster.”Gov. Gavin Newsom has said he wants to commit to $1 billion in funding each year until 2045. Crews are already building 119 miles of the system in the Central Valley. The grand plan is to eventually connect those lines with San Francisco and Los Angeles. However, the project’s cost has skyrocketed to an estimated $128 billion. Choudri said this project should be treated like any major infrastructure project. He thinks it is still worth the investment, even if the cost is high. “Maintain the commitment and let us do the delivery like we did with the interstate highway grid,” he said. “It was the commitment of the government saying we are not backing away. We have to do it. It is important.”See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel
SAN FRANCISCO —
The CEO of the California High Speed Rail Authority expressed confidence in the project despite billions of federal grant money possibly going away.
“We’re not stopping,” said Ian Choudri, the project CEO. “This is now at a place that we are not changing our path.”
President Donald Trump threatened to pull $4 billion in federal dollars away from the project. His administration has attacked the project as a waste of tax dollars. Drew Feeley, the head of the Federal Railroad Authority, called the project a “119-mile track to nowhere.”
However, during a conference of the American Public Transportation Association in San Francisco last week, Choudri said they have a plan to push on despite doubts from the federal government. He says the plan is to have the state fund it more. He said doing so would allow for private equity to invest in the project.
“We are talking with the administration and California legislature to step up more,” he said. “Funding through whatever the program they would like to look at, so that we can finance against it and keep building.”
Choudri said investors need to see consistent funds in order for them to put money into the project. He says if they secure enough private investment, the system could get built faster.
“It will accelerate the construction,” he said. “The end result we are looking for get to the population centers faster.”
Gov. Gavin Newsom has said he wants to commit to $1 billion in funding each year until 2045. Crews are already building 119 miles of the system in the Central Valley. The grand plan is to eventually connect those lines with San Francisco and Los Angeles. However, the project’s cost has skyrocketed to an estimated $128 billion.
Choudri said this project should be treated like any major infrastructure project. He thinks it is still worth the investment, even if the cost is high.
“Maintain the commitment and let us do the delivery like we did with the interstate highway grid,” he said. “It was the commitment of the government saying we are not backing away. We have to do it. It is important.”
See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel
