GOP Lawmakers Want $5.5B High-Speed Train Loan Derailed

Law360, New York (March 12, 2013, 4:46 PM EDT) -- A pair of Republican lawmakers have urged the Federal Railroad Administration not to approve a proposed $5.5 billion federal loan for the XpressWest high-speed rail project in California and Nevada, saying the potential risks to taxpayers from the loan were too high.

According to the letter, signed by Rep. Paul Ryan, R-Wis., and Sen. Jeff Sessions, R.-Ala., and made public March 7, the proposed loan — potentially the largest ever issued by the FRA — carries a significant risk of never being repaid, and the application...
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