To summarize recent events, the proposed statewide HSR project has only about 50% of funds necessary for the initial phase of the project. This figure, however, could be optimistic as estimated costs may actually be higher. With such a huge gap in funding, Governor Jerry Brown has proposed the use of cap-and-trade tax revenue to close the gap. However, this option could be opposed by many voters and violate high-speed rail bond covenants as it may not be a legitimate source of capital. In any case, supporters of Caltrain electrification assert that their particular project, which is funded by a portion of Proposition 1A funds, is still on track.