Politics & Government

December 24, 2014 5:57 PM

California carbon funds are an uncertain benefit for high-speed rail

It was a major lift for high-speed rail when Gov. Jerry Brown and the Legislature this summer pledged future proceeds from California’s carbon-reduction program to help fund the state’s $68 billion project. But as rail officials began talking with potential investors about cap and trade in recent months, the funding source has proven not only to be alluring, but also problematic.

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