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Investing.com-- U.S. President Donald Trump said on Wednesday that he will end government funding for California’s high-speed rail project, criticizing the project for cost overruns and allegedly wasting taxpayer money.
“The Railroad we were promised still does not exist, and never will. This project was Severely Overpriced, Overregulated, and NEVER DELIVERED,” Trump said in a social media post.
“Thanks to Transportation Secretary Sean Duffy, not a SINGLE penny in Federal Dollars will go towards this Newscum SCAM ever again.”
Trump’s post comes just hours after Department of Transportation Secretary Sean Duffy said the government was pulling $4 billion in funding for the rail project, accusing it of massive cost overruns, missed deadlines, and dubious ridership expectations.
The project was first approved in 2008 under California Governor Arnold Schwarzenegger, with a first train set to be operational by 2020.
But five years since that date, no tracks have been laid, while costs for the project have risen substantially.
Trump had in February called for an investigation into the project.