California to owe Feds up to $180 million
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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