California to owe Feds up to $180 million

January 24, 2014

California officials sought Wednesday to reassure congressional Republicans that the state will be able to match billions of dollars in federal funding for the state’s high-speed rail project, including a $180 million payment due in April.

Funding for the $68 billion bullet train system is in legal limbo after two court rulings last year, one of which prevented the state from selling $8.6 billion in bonds that it had intended to use to pay its share of the project. The federal government has awarded $3.5 billion in grants to the project, including $2.5 billion in federal stimulus money, which requires a dollar-for-dollar match and must be spent by 2017.

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