". . . Their estimate is $30 billion, an increase of 200%. As a result, Texas Central’s CEO has admitted to funding problems in the wake of the Covid-19 shutdown. . . "
Texas Insider Report: AUSTIN, Texas – Friday morning, Representative Steve Toth (Conroe) revealed his letter to Texas Department of Transportation Chairman J. Bruce Bugg, Jr. calling for the agency to stop assisting Texas Central. The company’s proposed high-speed rail from Houston to Dallas has been the topic of much controversy, raising concerns from landowners across Texas.
“Due to the economic collapse caused by the Covid-19 shutdown,” Toth’s letter reads, “we need to take action now in preparation for the constraints we will face when creating the next state budget.
“Texas Central originally told us their high-speed rail project from Houston to Dallas would cost $10 billion. Now their estimate is $30 billion, an increase of 200%. As a result, Texas Central’s CEO has admitted to funding problems in the wake of the Covid-19 shutdown:
“‘...our ability to begin construction will be contingent upon financial entities in the United States, Europe and Japan – all of which are dealing with urgent priorities generated by COVID-19....’”
“‘...our ability to begin construction will be contingent upon financial entities in the United States, Europe and Japan – all of which are dealing with urgent priorities generated by COVID-19....’”
Rep. Toth commented on his letter: “TxDOT has no business spending taxpayer resources on such an unfeasible project. That’s why I have urged them to immediately end any assistance they are offering Texas Central at taxpayer expense. TxDOT works for the taxpayers of Texas, not some high-speed rail marketing firm.”
Steve Toth is a small business owner representing South Montgomery County on the powerful Appropriations Committee in the Texas House of Representative. Representative Toth has appeared as a contributor on CNN, FOX News, Fox Business News, and OAN. He is the author of "The Trade-off Between the Medically and Psychologically Fragile," an article on COVID-19 featured in the Houston Courant and on GlenBeck.com. Rep. Toth also serves as chairman of the board for the Mighty Oaks Foundation ministering to veterans with post-traumatic stress disorder (PTSD).
