California Gov. Gavin Newsom's Proposal to Fund High-Speed Rail Project
California Gov. Gavin Newsom proposed to spend $1 billion per year on the state's failing high-speed rail project through cap-and-trade programs despite massive deficits. Newsom canceled the project in 2019 but now supports it to stand up to the Trump administration.
Key Points
- Newsom proposes $1 billion annual funding for high-speed rail
- Cap-and-trade system extension for greenhouse gases
- Political implications with Latino groups due to funding decisions
Pros
- Supports environmental initiatives
- Generates revenue through cap-and-trade system
Cons
- Massive deficits in the state budget
- High-speed rail project is decades late and over budget