Tuesday, December 27, 2016

Obama Rejects CA High-Speed Rail $15 Billion Loan

The California High-Speed Rail Authority came up empty when it asked the outgoing administration of President Barack Obama for a $15 billion loan, the Los Angeles Times reports.

State officials feared that with Republican Donald J. Trump taking office — somewhat unexpectedly — in January, and perhaps cutting off funding to the struggling project, which has never had a clear idea of how it would be financed, they would appeal to the Obama administration for a financial break.