FOR IMMEDIATE RELEASE
April 20, 2009
Contact: Gino Folchi
(916) 319-2073
Harkey Calls for High Speed Reality Check
SACRAMENTO – AB 2121 authored by Assemblywoman Diane Harkey (R-Dana Point) sailed out of the Assembly Transportation Committee with a vote of 13-0. As amended, the bill would hold the High Speed Rail Authority (HSRA) to a higher standard of financial accountability. The legislation would require HSRA to submit a 6 year expenditure plan and an annual financing plan to the Legislature with a detailed list any proposed indebtedness and costs associated with the project going forward.
“I have accepted the proposed amendments because they allow for an added level of accountability. But the overall issue of funding and the potential for state and local debt remains unchanged. This project could pose a huge risk to the overall solvency of the state. We cannot forget the remaining issues, the promises made to the people of California, and we must ensure the assurances that the language and intent of the original legislation is what this body and the people of California approved when they voted for Prop 1A”.
Originally intended to eliminate future funding for what could be seen as a low-priority bond project in light of the state’s current financial debacle, Assemblywoman Harkey soon began to uncover a number of unresolved issues with the High Speed Rail project. Specifically noted were gaps in the analysis with regard to financing, ridership, progress tracking benchmarks and the potential for state or local subsidies. After working with Democrats on amendments, the bill received several nods of support from private citizens as well as the Planning and Conservation League. The bill will now be heard in the Assembly Appropriations Committee.
“This bill will ensure a higher level of scrutiny of the high speed rail project’s finances,” Harkey said. “What began as a $9.75 billion voter-approved bond has grown into a $40-$60 billion project,” Harkey added. “Clearly, we must have a realistic picture of the financial impacts on the state and the taxpayers of California.”
Assemblywoman Harkey represents the 73rd Assembly District in the California Legislature, which includes the communities of Aliso Viejo, Dana Point, Laguna Hills, Laguna Niguel, Oceanside, San Clemente and San Juan Capistrano.
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