Trump administration to cut up to $4B funding for California's high-speed rail due to cost overruns and delays.

The Trump administration plans to withdraw up to $4 billion in federal funding from California's high-speed rail project, citing issues like missed deadlines, budget shortfalls, and overestimated ridership. The project, initially budgeted at $33 billion, now costs $128 billion, with construction only partly completed in the Central Valley. California has not secured the additional $7 billion needed for the initial segment. Despite these issues, the project has created over 15,000 jobs.