The rail line, which the report said has been clocked at slower than rush hour traffic at times, is also about $4.5 billion over budget. GAVIN FOR PRES. 2028, HE'LL BUILD A " HIGH SPEED RAIL FOR YOU. The feds approved about $7 billion, about half of which remains unspent, while the entire project is now projected to cost $128 billion; an overrun of $95 billion.