On life support just a few months ago, California’s bullet train has been resuscitated.
Last week, demolition began in Fresno to clear the way for the first stretch of track. More significantly, private investors across the country and abroad are expressing new interest in bankrolling part of the $68 billion project.
The lawsuits that have stymied the plan aren’t yet resolved, but a budget agreement brokered by Gov. Jerry Brown that guarantees the San Francisco-to-Los Angeles rail line its first funding stream — one that leading economists say could reach about three quarters of a billion dollars annually — has emerged as a “game changer,” high-speed rail experts say.