The most ambitious infrastructure project in America looks dead, at least for now, after its estimated costs had swelled to $77 billion.
Driving the news: California Gov. Gavin Newsom has called for dramatically dialing back the formidable high-speed rail project. In a speech today, he said "there simply isn’t a path to get from Sacramento to San Diego, let alone from San Francisco to L.A. I wish there were.” The project will be confined to California’s Central Valley, running from Merced to Bakersfield, Newsom said.