Episode Details

The Inspector General’s latest review slams California’s high-speed rail project for still violating state law and hiding a looming cash crunch—potentially running out of money by December 2027 without new funding. With $18 billion already spent and the first segment costing at least $36 billion, the full project could balloon to $126–$231 billion. The state lost $4 billion in federal funds and hasn’t secured private investment. A key revenue stream from the greenhouse gas fund is now uncertain due to new rules, and this year’s budget offered no relief. The IG warns that delays are mounting—the first segment may not open until September 2034—and demands immediate action, including mandatory pre-release stakeholder reviews of financial reports. Time is running out to fix this mess before lawmakers adjourn.

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