Biden administration approves sale of tax-exempt bonds to fund high-speed rail line

 January 25, 2024

According to the Washington Examiner, President Joe Biden's administration just gave the order to approve $2.5 billion worth of tax-exempt bonds for a high-speed rail line.  

The bonds will be issued by Brightline West, which is seeking to construct a new rail line connecting Los Angeles and Las Vegas.

Transportation secretary says project will create jobs

Transportation Secretary Pete Buttigieg touted the planned 218-mile-long project in a statement released on Tuesday.

"Today, the Biden-Harris administration takes the next step to fulfill the promise of high-speed rail in the American West, with $2.5 billion in private activity bond authority to lay tracks, create jobs, and connect American cities," Buttigieg declared.

"President Biden’s historic infrastructure package gives us the opportunity to build safe, green, and accessible rail systems that will deliver benefits to the American people for generations to come," he asserted.

Meanwhile, Deputy Transportation Secretary Polly Trottenberg boasted that travelers "will benefit from access to a fast and sustainable travel option that better connects key cities."

White House greenlights over $3 billion for California high-speed rail

The announcement came a month and a half after Fox News reported that the Biden administration greenlit $3.07 billion in funding for the California Inaugural High-Speed Rail Service Project.

That move was welcomed by California Democratic Gov. Gavin Newsom, who called it "a vote of confidence in today’s vision and comes at a critical turning point, providing the project new momentum."

However, it was slammed by California Republican Rep. Doug LaMalfa, who has long been a vocal critic of the project.

In a statement provided to Fox News, LaMalfa pointed out that the undertaking is years behind schedule and massively over budget.

Congressman: "Taxpayer dollars have been wasted on this boondoggle"

"This commuter train isn't even 'high speed,' is at least 13 years behind schedule, and will now cost four times the original price tag promised to voters," LaMalfa complained.

"Far too much taxpayer dollars have been wasted on this boondoggle. It’s in everyone’s best interest to cut the losses and rescind every cent dedicated to this foolish project," he insisted.

"Any fool can see this project isn’t going to be completed," the congressman went on to assert, adding, "The state is $68 billion in debt, hasn’t laid a single inch of track and is over $120 billion short. Biden and Newsom sure know how to waste your money."

" A free people [claim] their rights, as derived from the laws of nature."
Thomas Jefferson
© 2015 - 2024 Conservative Institute. All Rights Reserved.