FAST TRAIN TO NOWHERE: The Trump administration made it official Thursday: It’s rescinding nearly $1 billion in funding for California’s high-speed rail project, arguing the state has repeatedly violated the terms of a grant agreement. Our Tanya Snyder has more on what DOT says are the project’s failings, including not living up to its required state funding match, a slipping schedule, and failing to provide adequate reporting for FRA oversight. The $929 million in funds was never actually sent to California, so the DOT will simply “deobligate” it.