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.
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.
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.
Persons:
Biden, ”, Wes Edens, Sen, Jacky Rosen
Organizations:
LAS VEGAS, . Department of Transportation, Brightline Holdings, Los Angeles . Planners, Nevada -, Nevada U.S, Democrat, Summer
Locations:
Las Vegas, Southern California, Florida, U.S, Miami, Orlando, San Bernardino County, Los Angeles, Nevada, Nevada - California, Congress