California Secures $1B Annual Funding for High-Speed Rail Through 2045

California has secured a historic commitment of $1 billion annually in funding for its high-speed rail project through 2045, sourced from the state's extended cap-and-trade program. This steady funding agreement, endorsed by Governor Gavin Newsom and state legislators, addresses long-standing financial gaps and provides the California High-Speed Rail Authority with the stability needed to complete the initial Merced-to-Bakersfield segment by 2033. The funding enables the Authority to pursue private-sector partnerships, begin trainset procurement, and bolster early operations planning, while also serving as a critical match for federal grant opportunities despite the Trump Administration's reductions in federal support. To date, nearly 70 miles of track bed and over 50 bridges have been completed in the Central Valley, with tracklaying expected to begin later this year and environmental clearance secured for most of the planned route from San Francisco to Los Angeles and Anaheim. Authority CEO Ian Choudri highlighted the agreement as a bold investment in California's future that will create jobs, reduce pollution, and connect communities, while emphasizing the need for additional long-term funding to extend the system to major population centers. The sustained funding commitment marks the largest guaranteed cash infusion in the project's history and signals strong state resolve against federal opposition.