A Train Wreck

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Marie Waldron
Marie Waldron. Valley News/Courtesy photo
Assemblymember Marie Waldron Special to Valley News Reality is setting in for the high-speed rail project. Cost overruns, construction delays and false promises may have finally doomed the project. In 2008, voters passed Prop. 1A, a $9.5 billion bond measure to help finance high-speed rail. Promises included keeping costs under $40 billion, the state’s maximum investment would be 30%, funding from federal, private and local sources would pay the rest. Additional taxpayer subsidies were prohibited, and construction could not begin until all revenues were in hand for the first segment. But projected costs now range as high as $100 billion, making this the third most costly construction project in world history, more costly than the International Space Station and the 47,000 mil
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