Governor Brown claims not only that the project will cost less than the $100 billion currently estimated by the state, but that he's found a funding source to help pay for it.
As David Siders reports, in an interview that aired yesterday in Los Angeles Governor Brown asserts that the $100 billion estimate is "way off." Furthermore, Gov. Brown asserts that revenues from cap-and-trade fees paid by emission producers will be a source of funding.
"'Phase 1, I'm trying to redesign it in a way that in and of itself will be justified by the state investment,' Brown said. 'We do have other sources of money: For example, cap-and-trade, which is this measure where you make people who produce greenhouse gasses pay certain fees - that will be a source of funding going forward for the high speed rail.'
Read the full story: Jerry Brown says cap-and-trade fees will fund high-speed rail Read more here: http://blogs.sacbee.com/capitolalertlatest/2012/0
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