|Gov. Moonbeam says his Super Train boondoggle will not cost $100 billion because he can strong-arm companies with the state’s new Thermageddon Law.|
So, Jerry, What exactly does this mean? I guess $90 Billion would be a snap for your fellow bankrupt slackers to squeeze out of the few remaining businesses in California.
LOS ANGELES -- Gov. Jerry Brown told a Los Angeles TV station today that the state's proposed high speed rail system will cost much less than $100 billion, and will partly be funded by new taxes on major air pollution emitters.
The governor told ABC 7's "Eyewitness Newsmakers" program that environmental impact fees paid by industries that emit large amounts of greenhouse gas will help fund the big train project. California has a "cap and trade" law that will collect fees if businesses do not reduce emissions, the governor said.
The Sacramento Bee reported, however, that the governor's budget is not clear on exactly how $1 billion in annual cap and trade revenue will be extracted from California industries next year.
The governor also dismissed a recent High Speed Rail business plan that predicted a $100 billion cost for the bullet train system, which is supposed to link the Bay Area with Los Angeles. Voters had approved a plan that was estimated to cost $45 billion.
The governor has said plans to slow down construction would balloon the costs due to inflation, and said today building it quickly will keep the cost low.
"It's not going to be $100 billion," the governor said on ABC7 today. "That's way off."
In remarks made on Channel 7 and transcribed by the Sacramento Bee newspaper, Brown said the advanced travel system is needed in California.
"It's going to be a lot cheaper than people are saying," he said.