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California High Speed Rail Authority
The latest estimated price tag for California's high-speed train is now $98.5 billion.
A new forecast from the California High-Speed Rail Authority slightly lowers the $68 billion cost of the bullet train project but leaves the construction timeline the same despite protracted court battles.
The updated business plan released Friday also estimates the system will have more riders taking shorter trips than previously forecast, bringing in less revenue.
Its analyses of population, traffic and other factors show revenue could be anywhere from 5 percent to 10 percent lower than previously estimated, but the report says the system still will be able to operate without a public subsidy.
The rail authority is required to update its business plan every two years. It's separate from a financing plan that was thrown out by a Sacramento County Superior Court judge in a case now on appeal.
The Draft 2014 Business Plan can be found online.