California confirmed $600 million for the high-speed rail project

CALIFORNIA (Metro Rail News): On Tuesday the state’s finance committee has confirmed the allocation of $600 million in tax-exempt bonds to move toward the private Virgin Trains for the intended high-speed rail project.

The $4.8 billion high-speed rail project would connect 2 cities among Las Vegas-Southern California. As per the Internal Revenue Service guidelines, the Virgin Trains market up to 4 times the amount of the $600 million in bonding authority that would complete of $2.4 billion in tax-free, private equity bonds.