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California Assembly Votes for High-speed Rail

A bill that would let California to sell about $4.5 billion in state bonds and access $3.2 billion in federal grants to fund a high-speed rail system has passed the state Assembly.

July 06, 2012

A bill that would let California to sell about $4.5 billion in state bonds and access $3.2 billion in federal grants to fund a high-speed rail system has passed the state Assembly.

Reuters reports that the bill, which now moves on to the California Senate, faces stiff resistance over concerns that it could cost $68 billion. Governor Jerry Brown supports the bill, citing job creation.

Source: AGC

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