California is putting together a new version of the 1903 movie “The Great Train Robbery,” one of the great films of the silent era.
Except this time, in the sequel, the train robs you, not the outlaws.
The California High-Speed Rail Authority (CHSRA) wants to “capture” some of the local tax revenue in Central Valley towns that the bullet train is supposed to travel through (if it is ever finished).
The Merced Sun-Star reports that the high-speed rail wants to take “a portion of the rise in property and sales tax revenues — known as tax increments — created within a half-mile of a station by the bullet train project.”
The costs of the high-speed rail project have exploded, from $33 billion in 2008 to over $230 billion today.
That money has to come from somewhere. California can’t print it, and President Donald Trump won’t send any more.
So the cash-hungry CHSRA wants a piece of local taxes.
And the mayors are furious — as they should be, at being forced to subsidize the failing project.
CHSRA argues that because high-speed rail will improve local property values and boost economic activity, the “bullet train” should get a cut of the action.
But it’s not clear that the high-speed rail will improve anything.
As The California Post reported in February, some towns are already suffering from the construction.
California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCalifornia Post Sports Facebook, Instagram, TikTok, YouTube, XCalifornia Post Opinion California Post Newsletters: Sign up here!California Post App: Download here!Home delivery: Sign up here!Page Six Hollywood: Sign up here!
Residents complain that CHSRA is grabbing local property. Local business owners worry that new overpasses will cut off access for customers.
The high-speed rail is also destroying historic neighborhoods in Fresno. And some of the smaller towns along the route won’t even experience any benefit, because the train won’t stop there.
And all of this damage before a single inch of track is laid, or a single ticket sold.
The whole concept of the high-speed rail taking local tax money reverses the way a project should be designed and run.
High-speed rail makes sense if it can be run profitably, and attract private investment.
That’s the idea behind the proposed Brightline train between Las Vegas and Southern California. It is expected to make money because, like the Vegas monorail, it’s mostly another attraction, not just a way to get around.
Once a project is profitable, you can tax it.
But don’t tax local towns, which are already short on cash, and have many needs.
In fact, you could save taxpayer money simply by canceling the train.
