Bill For the Planning a Financing of Mag/Lev Reaserch

[King]

I've done a little research and have found the $100 million dollars over the next 20 years could only pay for a 3 mile MagLev track. To pay for the entire promised line, it would cost us....$893.1 billion dollars and that is just construction.

To pay for this, we have to:
1) Raise taxes on all income brackets by 4%
2) Cut spending on social programs by 20%
3) Cut military spending by 10%

[King]

I've done a little research and have found the $100 million dollars over the next 20 years could only pay for a 3 mile MagLev track. To pay for the entire promised line, it would cost us....$893.1 billion dollars and that is just construction.

To pay for this, we have to:
1) Raise taxes on all income brackets by 4%
2) Cut spending on social programs by 20%
3) Cut military spending by 10%

This only pays for research on Mag Lev.
Check out Clause 4 of the last version.

I see, but still. NO corporation would take a $1 trillion risk like that and NO financial institution would help pay for it.

[King]

It's been about a week since the bill's intro, debate has stopped, and it looks like the bill is ready to be voted on. Phil, will ye do the honors?

[King]

Map of that line:



For some reason, there is a SF-Sacramento and a SF-Reno line that overlap, instead of a SF-Sacramento-Reno line.

[King]

5-1, looks set to pass.