Jerry Brown seeking $250 million to boost bullet train
Gov. Jerry Brown wants to use $250 million in cap-and-trade revenue to help fund California’s troubled bullet train, according to Capitol officials.
The money is a small fraction of the project’s total $68.4-billion cost, but it could bolster the effort to begin construction at a time when other sources of state and federal money are facing legal challenges.
The officials requested anonymity to discuss part of the governor’s budget proposal before it is released on Friday. They also said Brown wants to steer more money from the cap-and-trade program, which is intended to reduce greenhouse gas emissions, toward energy efficiency and clean transportation upgrades.
A spokesman for Brown’s Department of Finance declined to comment.
Brown has stirred controversy with his plans for cap-and-trade revenue. Some environmentalists would rather see all of the money put toward programs that would reduce greenhouse gas emissions more quickly, since the bullet train isn’t scheduled to be completed for years.
They were also upset by Brown’s decision to borrow $500 million in cap-and-trade money to cover general fund expenses last year. The governor plans to propose repaying $100 million of the money in his new budget, the officials said.
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