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Xpress West Hits Financial Roadblock

(Washington, DC)  —  A federal loan for a high-speed rail service between Las Vegas and  Southern California has stalled due to “Buy America” rules.

Former Transportation Secretary Ray LaHood halted the loan review for Xpress West, after executives failed to “satisfy domestic manufacturing requirements.”

LaHood says that issue and other “significant uncertainties” surrounding the project forced him to suspend “further consideration” of the loan request.

Senator Harry Reid, who supports Xpress West, says there’s still a chance of federal backing.

  • http://www.keepit2real.com/goodstuff/xpresswest-las-vegas-train-where-are-the-venture-capitalists/ XpressWest Las Vegas Train: Where are the Venture Capitalists? | Good Stuff

    […] of the letter were not made public (presumably to protect confidential commercial information), but Secretary LaHood indicated that “serious issues” and “significant uncertainties” surrounding […]

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