Trump to cancel some of the funding for California's bullet train to bankruptcy

LA Times:
Trump administration to cancel $929 million in California high-speed rail funding

The fate of California’s high-speed rail project was cast into further doubt Tuesday when the federal government announced plans to cancel $929 million in grant funds, a move U.S. officials linked to violations of the grant agreement but some view as political payback.

The action marks an escalation in the battle between President Trump and the state of California since Gov. Gavin Newsom said last week that the project lacked a path to complete a statewide system and vowed to scale back the $77-billion mega-project.

The Transportation Department also said it was “actively exploring every legal option” to get back an additional $2.5-billion grant that is being used to finance the construction of 119 miles of rail line in the Central Valley.
...
It looks like a good business decision to cut losses on the boondoggle.

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