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15h ago

High-Speed Rail Authority Seeks $1 Billion State Backing to Offset Threatened Federal Grants

The plan hinges on extending cap-and-trade revenues through 2045 to attract private partners for Central Valley track expansion.

A conceptual rendering of the California High-Speed Rail train.
The Tied Arch Bridge construction site, which will take high-speed rail trains over California’s Highway 43, is shown in an aerial view in Fresno County, in April.
An aerial image shows construction workers building the Hanford Viaduct over Highway 198 as part of the California High Speed Rail (CAHSR) transit project in Hanford, California on February 12, 2025.
Ian Choudri, chief executive officer of the California High-Speed Rail Authority, believes private financing could help complete the transit project.

Overview

  • New CEO Ian Choudri is advocating a $1 billion annual commitment from state cap-and-trade funds.
  • He intends to use that stable funding floor to lure private equity investment for completing the Merced-to-Bakersfield stretch.
  • Construction continues on 119 Central Valley miles even after President Trump threatened to withdraw $4 billion in federal grants.
  • Lawmakers and transit advocates are challenging the redirection of cap-and-trade revenues set to expire in 2030.
  • With the project’s price tag now at roughly $128 billion, officials hope combining public funds and private capital will sustain progress toward a future San Francisco–Los Angeles connection.