A libertarian think tank is publishing a report today claiming taxpayers may be in for a raw deal if the federal government offers a loan to a company planning a high-speed rail line linking Victorville to Las Vegas. <\/p>\n
The company, XPress West, is proposing to build a rail line that could travel as fast as 150 mph, and the Federal Railroad Administration has approved the firm's planned route from Victorville to Las Vegas. <\/p>\n
What the government has not yet agreed to, however, is Xpress West's application for a multi-billion dollar loan to build the rail line. <\/p>\n
And that's something the libertarian Reason Foundation does not want to see happen. <\/p>\n
In a \"Taxpayer Risk Analysis\" published today, think tank analysts contend XPress West overstates Vegas-bound travelers' willingness to drive from from the Inland Empire or Greater Los Angeles in order to buy a train ticket for the balance of their journey. <\/p>\n
\"There's a reason so many people drive to Las Vegas from the Inland Empire, Riverside, Los Angeles. If you get two or three people in the car, it's pretty cheap,\" said Adrian Moore, the Reason Foundation's vice president for policy. <\/p>\n
XPress West executives declined to comment for this report since no one at the Las Vegas-based firm has yet to see the report before its publication. <\/p>\n
In a recent interview with the Los Angeles Daily News, The Sun and Inland Valley Daily Bulletin's sister paper, XPress West chief operating officer <\/p>\n
Mack also said Xpress West has applied for a loan through the Federal Railway Administration's Railroad Rehabilitation program. The company needs $5.5 billion on top of the $1.4 billion in capital already raised for the project. <\/p>\n
The loan would be paid out over 35 years, he said. A ticket on Xpress West could cost $89 round trip. <\/p>\n<\/p>\n
Read the rest here:<\/p>\n
Libertarian think tank opposes government loan for Victorville-to-Las Vegas rail<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A libertarian think tank is publishing a report today claiming taxpayers may be in for a raw deal if the federal government offers a loan to a company planning a high-speed rail line linking Victorville to Las Vegas. The company, XPress West, is proposing to build a rail line that could travel as fast as 150 mph, and the Federal Railroad Administration has approved the firm's planned route from Victorville to Las Vegas. What the government has not yet agreed to, however, is Xpress West's application for a multi-billion dollar loan to build the rail line Continue reading