High-speed rails: We’ve seen animations of what they might look like, and heard politicians talk about them. What we have yet to see is an actual high-speed train flying along the rails. But that may change soon enough in California.
Although support at the federal level for funding has died down, according to City Lab, the state has been able to find money for the new venture through cap-and-trade revenue.
Cap-and-trade, which basically taxes big business for polluting the environment, could bring in between $3 and $5 billion dollars every year towards the transportation project. This is a huge boon, not only because it’s steady, annual income, but also because it allows for the project to take out larger loans — whether they be from the federal government or private investors.
In a blog post about California’s high speed rail, Robert Cruickshank said, “this is perhaps the best news California HSR [high-speed rail] has had in over five years.”
Although a debate on the building of a high-speed rail continues, two things are for certain: California is now a lot closer to having the transportation of the future — and it’s all thanks to a program that promotes the environment.