Californias High-Speed Rail line could be broke by end of 2027

California’s bullet train could have a new end point: Brokeville, USA.The state’s beleaguered high-speed rail line is once again careening toward a financial cliff, as a new report — delivered last month to Gov.Gavin Newsom and legislators — says the project could run out of cash by the end of next year.The Office of the Inspector General warned that the California High-Speed Rail Authority’s funds could dry up as soon as December 2027 unless it secures financing — and the authority would need to borrow as much as $9.5 billion over five years just to keep construction on schedule.Inspector General Benjamin Belnap’s report noted that high-speed rail officials have “obscured basic facts about the project, hindering lawmakers’ ability to provide effective oversight of the project.” State Sen.

Tony Strickland (R-Huntington Beach), who previously called the bullet train “the most wasteful government project in probably world history,” said on Tuesday that the warning of empty coffers by the end of 2027 was “no surprise.”“During the informational hearing this spring, both the nonpartisan [Legislative Analyst’s Office] and the Inspector General were unable to identify a reliable funding source for high-speed rail,” Strickland told The Post.“The LAO described the public-private partnership plan as ‘risky,’ highlighting the uncertainty of relying on uncommitted funding and the reality that public-private partnerships only work when viable funding sources exist.”Strickland added, “It’s truly time to pull the plug on this wasteful government project.”The inspector general found that some of the authority’s recent savings are largely the result of shrinking what it plans to build — rather than finding cheaper ways to build it.The authority’s preferred plan cuts the Merced-to-Bakersfield route from 171 miles to 162 miles, moving the planned Merced station out of downtown and temporarily stopping trains north of downtown Bak...