Calif. Auditor Hammers $100B High-Speed Rail Plan

Law360, New York (January 25, 2012, 2:10 PM EST) -- California’s plan for a $100 billion high-speed rail line between San Francisco and Los Angeles is riddled with inaccuracies and fails to offer a solid financing program, according to a report issued Tuesday by the state auditor.

California State Auditor Elaine Howle blasted the California High-Speed Rail Authority’s draft business plan for the rail project, finding that the agency provided scant insight as to how the project will be funded even while cost estimates for the first phase of construction ballooned.

“The program’s overall financial situation...
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