Eyewitness This: CA to assist financing of high-speed train between SoCal and Las Vegas

California will likely assist the financing of a high-speed train between the Southland and Las Vegas, officials announced.

Virgin Trains USA plans to build the rail, which will span 185 miles and take 90 minutes to move people between Vegas and Victorville. California State Treasurer Fiona Ma is likely to approve $300 million in tax-exempt private activity bonds for the company. That move would allow the company to access about $2.4 billion in debt, roughly half of what it needs to build the train. Construction is expected to start in 2020 and take three years.

Watch Eyewitness This for more stories making headlines.
Copyright © 2021 KABC Television, LLC. All rights reserved.