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Dan Richard, chairman of the board that oversees the California High Speed Rail Authority, displays a copy of a draft report on the project during a legislative hearing on the project, Wednesday, Jan. 27, 2016, in Sacramento, Calif. Richard told lawmakers that he expected the next cost projection of the project will likely be lower then the current $68 billion, but he is less confident about the current predictions for how quickly the system can be built. (AP Photo/Rich Pedroncelli)

Dan Richard, chairman of the board that oversees the California High Speed Rail Authority, displays a copy of a draft report on the project during a legislative hearing on the project, Wednesday, Jan. 27, 2016, in Sacramento, Calif. Richard told lawmakers that he expected the next cost projection of the project will likely be lower then the current $68 billion, but he is less confident about the current predictions for how quickly the system can be built. (AP Photo/Rich Pedroncelli)

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