California High-Speed Rail Authority misses deadline for plan
The California High-Speed Rail Authority missed the May 1 deadline to submit a report to the Legislature about the project's estimated cost of $126.2 billion. The authority now plans to submit the report on June 1, 2026, citing the need to align with the fiscal year 2026-27 budget cycle.
The California High-Speed Rail Authority missed the May 1 deadline to submit a report to the Legislature about the long-delayed project and its estimated cost of $126.2 billion. The agency's 2026 business plan was due on Friday, but it will now be considered by the board on June 1, 2026, and transmitted to the legislature on the same day. The authority cited the need to align the business plan with the fiscal year 2026-27 budget cycle. The plan is required to include information on funding gaps for the Merced-to-Bakersfield segment. Local officials are concerned about the project's funding, which relies on California's cap-and-trade program. The program has been criticized for driving out businesses and potentially diminishing revenues.
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