Report: $68B bullet train project likely to overshoot budget

A newspaper analysis concludes California’s ambitious Los-Angeles-to-San-Francisco high-speed rail project will likely miss its 2022 deadline and go over its $68 billion budget.

The Los Angeles Times said Saturday that state officials underestimated the project’s challenges, particularly punching 36 miles of tunnels through the mountains north of Los Angeles.

It will be the most ambitious tunneling project in U.S. history.

The California High-Speed Rail Authority hasn’t yet chosen an exact route through the mountains.

It also is behind schedule on land acquisition, financing and permit approvals, among other crucial tasks, and is facing multiple lawsuits.

The first construction began in July – 2 1/2 years behind the target the authority had set in 2012.

The newspaper analyzed project documents and conducted interviews with scientists, engineers and construction experts.