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California Applies for $4.7 Billion in High-Speed Rail Stimulus Funds

speeding_train.jpgImage: CAHSRA [1]
Governor Arnold Schwarzenegger announced today that the state has applied for $4.7 billion in American Recovery and Reinvestment Act (ARRA) stimulus money for the California High Speed Rail Authority (CAHSRA) to start the nation's most ambitious high speed rail project.

In a statement, the governor said, "Recovery Act funding for high-speed rail will go further and create more jobs in California than in any other state in the nation – because we have pledged to match it dollar-for-dollar." Using US DOT job creation numbers, the governor's office estimates that the full $4.7 billion would create 130,000 jobs throughout the state.  The dollar-for-dollar local match referred to in the statement would come from the $9.95 billion Proposition 1A bond voters approved in last year's election. Local, state, and national political representatives are rallying throughout the state today to show support for the ARRA request, with a regional event at San Jose's Diridon station.

According to a CAHSRA fact sheet, the $4.7 billion would be spent accordingly: