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Benzinga
Benzinga
Business
Namrata Sen

Trump Cancels $4 Billion Funding For California High-Speed Rail Project, Calls It 'Disastrously Overpriced'

San,Francisco,,Ca,-,April,26,,2022:,California,Governor,Gavin

The Trump administration has decided to withdraw $4 billion in federal funding from California’s high-speed rail project, citing excessive costs and unmet promises.

What Happened: President Donald Trump announced via his Truth Social account on Wednesday that the U.S. Department of Transportation is retracting the $4 billion in government funding allocated for California’s high-speed rail project. Trump criticized the project as being “severely overpriced, overregulated, and never delivered.”

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