U.S. agency to cancel $929 million in California high-speed rail funds

U.S. agency to cancel $  929 million in California high-speed rail fundsCalifornia Governor Gavin Newsom said last week the state will dramatically scale back a planned $ 77.3 billion high-speed rail project that has faced cost hikes, delays and management concerns, but will finish a smaller section of the line. The Transportation Department’s Federal Railroad Administration said in a letter it wanted to halt funding because the state had “failed to make reasonable progress.” It cited Newsom’s announcement to scale back the project.

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