Squeal Award: A Financial Train Wreck. 

A high-speed rail project in California is choo chooing billions in taxpayer dollars, and it has been off track ever since it left the station. This “bullet” train, which was supposed to connect San Francisco and Los Angeles, is 13 years behind schedule and $44 billion over its original price tag.

This boondoggle has received $3.5 billion in federal tax dollars. When construction for this project began in 2013, California and D.C. politicians promised it would be completed by 2020.  The current estimated completion date for this project is 2033, 16 years later than the original federal grant requires.

California Governor Gavin Newsom said he would both scale back the project and “push for more federal funding.” He may “think he can,” but this is the story of the “little train that couldn’t.” 

The California bullet train is more than a decade behind schedule and $44B over budget. It’s time we derail this gravy train.

Last week, the Administration called on California to pay back the billions of taxpayer dollars they misused. I couldn’t agree more. Hard-working Iowans and Americans across the country should not be paying the fare for this out-of-control spending. 

With the national debt now exceeding $22 trillion, Washington needs to scrutinize projects like this that are billions over budget and years behind schedule. That’s why I’m introducing the Billion Dollar Boondoggle Act, which would require an annual report to taxpayers listing every government-funded project that is $1 billion or more over budget, or five years or more behind schedule. 

It’s time this rail train is brought to a squealing halt, which is why I’m awarding February’s Squeal Award to the California High-Speed Rail Authority.

Do you have an example of government waste or inefficiencies that I should take a look at? Send me an email by clicking here.

Thank you!