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California drivers are about to give high-speed rail a big funding boost

from CityLab

The California high-speed rail project got a big funding cushion last summer when the state set aside 25 percent of cap-and-trade revenue for the $67.6 billion bullet train between Los Angeles and San Francisco. Now it turns out that cushion might be much bigger than expected. The state's latest budget anticipates about $1 billion dollars in total cap-and-trade revenue for 2015-16, leading to about $1.7 billion over 2014-2016. more


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