Surprise, surprise…the RailRunner needs more money!

Given the lack of public disclosure of the project’s financing and the very nature of government-financed projects, the only surprising thing about this story is that it took so long to develop. As it turns out, Governor Richardson has overcommitted New Mexico taxpayers to funding the RailRunner based on the assumption that Congress was going to step in and foot $75 million of the bill. Raising the gas tax to pay for these “unexpected costs” would be a disaster. If lawmakers in Santa Fe had any guts, they’d kill this train before any more taxpayer dollars are wasted on what will undoubtedly be further cost overruns (not to mention at least $8 million in annual operating costs).

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