California drops lawsuit challenging Trump decision to pull $4 billion in high speed rail funding

marketscreener
2025.12.27 04:40

California has dropped its lawsuit against the Trump administration over the cancellation of $4 billion in federal grants for the state's high-speed rail project. The California High-Speed Rail Authority cited the federal government's unreliability as a partner. The state plans to continue the project without federal funding, which has only accounted for 18% of expenditures so far.