Current:Home > NewsLas Vegas-to-California high-speed electric rail project gets OK for $2.5B more in bonds-DB Wealth Institute B2 Reviews & Ratings
Las Vegas-to-California high-speed electric rail project gets OK for $2.5B more in bonds
lotradecoin app download and installation View Date:2024-12-25 14:32:33
LAS VEGAS (AP) — A proposed high-speed passenger train between Las Vegas and Southern California got another boost on Tuesday with Biden administration approval to issue $2.5 billion in tax-exempt bonds for the $12 billion project.
The announcement benefiting the Brightline West project followed a $3 billion U.S. Department of Transportation grant in December and government authorization in 2020 for the company to sell $1 billion in similar bonds.
“We appreciate the confidence placed in us by DOT and are ready to get to work,” Brightline founder and Chairman Wes Edens said in a statement. Florida-based Brightline Holdings LLC currently operates the only privately-owned intercity passenger railroad in the U.S., linking Miami and Orlando with trains reaching speeds up to 125 mph (200 kph).
The 218-mile (351-kilometer) Brightline West project aims to whisk passengers at 186 mph (300 kph) or more in electric trains on new tracks along the Interstate 15 corridor — cutting in half a four-hour freeway trip between Las Vegas and suburban San Bernardino County near Los Angeles.
Planners and politicians say the project has all the required right-of-way and environmental approvals, along with labor agreements, and should help alleviate weekend and end-of-holiday travel traffic jams that often stretch for 15 miles (25 kilometers) on I-15 near the Nevada-California line.
Nevada U.S. Sen. Jacky Rosen, a Democrat who has backed the project in Congress, said she expects the long-sought rail link will boost Nevada’s tourism economy and create thousands of jobs while reducing traffic and pollution.
No date has been announced for work to start, but officials have said it might be operational by the Summer Olympics in Los Angeles in 2028.
veryGood! (9)
Related
- What Conservation Coalitions Have Learned from an Aspen Tree
- Queen Charlotte's Tunji Kasim Explains How the Show Mirrors Prince Harry and Meghan Markle's Story
- Go Behind-the-Scenes of Brittany Mahomes’ Met Gala Prep With Her Makeup Artist
- Highlighting the Allure of Synfuels, Exxon Played Down the Climate Risks
- Bristol Palin Shares 15-Year-Old Son Tripp Has Moved Back to Alaska
- How Kelly Ripa and Mark Consuelos Celebrated Their 27th Anniversary
- Nurses in Puerto Rico See First-Hand Health Crisis from Climate Disasters
- U.S. Unprepared to Face Costs of Climate Change, GAO Says
- American Supercar: A first look at the 1,064-HP 2025 Chevrolet Corvette ZR1
- Vanderpump Rules' Ariana Madix Reunites With New Man Daniel Wai for NYC Date Night
Ranking
- State, local officials failed 12-year-old Pennsylvania girl who died after abuse, lawsuits say
- Wisconsin Farmers Digest What the Green New Deal Means for Dairy
- Puerto Rico: Hurricane Maria Laid Bare Existing ‘Inequalities and Injustices’
- I Tested Out Some Under-the-Radar Beauty Products From CLE Cosmetics— Here's My Honest Review
- Wally Amos, 88, of cookie fame, died at home in Hawaii. He lost Famous Amos but found other success
- From a March to a Movement: Climate Events Stretch From Sea to Rising Sea
- Opponents, supporters of affirmative action on whether college admissions can be truly colorblind
- El Niño’s Warning: Satellite Shows How Forest CO2 Emissions Can Skyrocket
Recommendation
-
Wildfires are growing under climate change, and their smoke threatens farmworkers, study says
-
Explosive Growth for LED Lights in Next Decade, Report Says
-
Today’s Climate: May 11, 2010
-
Alarming Rate of Forest Loss Threatens a Crucial Climate Solution
-
A weatherman had a panic attack live on air. What it teaches us.
-
Nurses in Puerto Rico See First-Hand Health Crisis from Climate Disasters
-
Why Princess Anne's Children Don't Have Royal Titles
-
Released during COVID, some people are sent back to prison with little or no warning