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Calif. Assembly OKs 1st Leg Of $68B Rail Project

By Lana Birbrair (July 5, 2012, 9:25 PM EDT) -- California lawmakers on Thursday authorized initial financing of about $4.7 billion in state funds for a planned $68.4 billion rail system, setting up a vote in the state's Senate, which may be more wary of the plan to create 220-mph train service across the state....

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