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California Assemblywoman Diane Harkey has proposed legislation that would stop the sale of Proposition 1A bonds for California’s proposed high-speed rail (HSR) system, according to a news article posted March 15 by the San Jose Mercury News and posted on Harkey’s Web site. In November 2008, California voters approved the $9.95 billion bond measure, which will be used to help finance the $42.6 billion statewide network.

With a $22 billion budget gap, the state already is “over its head in debt” and the legislature needs to take a second look at the project, according to Harkey. In addition, Harkey believes that voters did not have all the facts when they approved the measure and as the price tag for the project rises, state leaders need to take a second look at it.

However, California HSR supporters, including Gov. Arnold Schwarzenegger, say the project could create 600,000 jobs and help reduce the state’s 12.5 percent unemployment rate.

In the same news article, California High Speed Rail Authority board member Rod Diridon was quoted as saying that cutting project funding is a bad idea and that the legislation “won’t go very far.”

In January, the Obama Administration announced that California would receive $2.25 billion in federal high-speed stimulus funds.