A high-speed train project in California is losing its federal funding, the Department of Transportation says. The Trump administration said it had determined that the railroad authority did not live up to terms that it agreed to in its initial federal contracts. The California High-Speed Rail Authority previously told CNBC that most of its funding is provided by the state, not by the federal government. A rendering shows a high-speed rail train as it enters a station during an informational open house by the California High-Speed Rail Authority at the Hilton DoubleTree in downtown Fresno, California, on Wednesday, May 1, 2024. Craig Kohlruss | Fresno Bee | Tribune News Service | Getty Images
Transportation Secretary Sean Duffy has formally terminated $4 billion in federal funding for the California High-Speed Rail Authority, weeks after putting the bullet