Bullet train’s risk of cost overruns reduced, rail chief says
Dan Richard, chairman of the California high-speed rail authority, said Wednesday at a congressional hearing in Madera that the agency had reduced the risk of future cost overruns, but the project’s price tag could increase in the future.
“I am not going to sit here and promise that there will not be [cost growth],” Richard said.
Richard was one of six witnesses called by the House rail subcommittee chairman, Rep. Jeff Denham (R-Atwater), who has been harshly critical of the agency’s plans and what he contends is lack of compliance with a voter-approved measure that provided $9 billion for the system.
-- Ralph Vartabedian, Los Angeles Times