California high-speed rail faces $7 billion shortfall, risks halting progress by next June

More trouble tonight for the state's controversial high-speed rail project.

It now needs a lot more money fast.

At a budget hearing in the state assembly Wednesday, California Legislative Analyst Office representative Helen Kerstein told lawmakers the project is now reporting it's $7 billion short of what it needs by next June, 2026, and Kerstein says that's not all.

“There is no specific plan to meet that roughly 7 billion dollar gap from Merced to Bakersfield. We also think there's some risk that that gap could grow,” said Kerstein.

With no plan in sight to meet that shortfall, Kerstein says the project could grind to a halt in as little as 15 months.