Study: California High-Speed Rail Would Lose $124 Million to $373 Million a Year
Research shows ridership estimates are exaggerated by 65 percent to 77 percent
Los Angeles (April 11, 2013) – The California High-Speed Rail Authority is overestimating ridership by 65 percent to 77 percent and will need $124 million to $373 million a year from taxpayers to cover its operating costs and financial losses, according to a new study by Reason Foundation.
In 2008, voters were promised a bullet train trip from Los Angeles to San Francisco in two hours and forty minutes. However, the Reason study finds the system’s fastest non-stop trip is likely to take nearly four hours and most trips would take even longer. Continue reading