(Albuquerque, New Mexico) The Rio Grande Foundation raised new questions today about the funding sources for New Mexico’s commuter rail system, known as the “Rail Runner,” which is set to begin service later this year.

Signage (shown below) at commuter rail station construction sites states that the $318 million system is “funded by Governor Bill Richardson and the New Mexico Legislature.” Rio Grande Foundation President Paul Gessing expressed wonder when informed of the language on the signs, saying, “I was under the impression New Mexico’s taxpayers and severance taxes paid by the oil and gas industries were paying for the Rail Runner project, not politicians.”

Foundation staff contacted Governor Richardson and several legislators to determine the real source of the Rail Runner’s financing and the misleading signage. Gessing said, “We wanted to find out if Governor Richardson or any legislators had voluntarily allocated their own money to fund the Rail Runner or whether there was some mistake on the signs.” Gessing continued, “Not a single public official I talked to had personally funded the project, but Governor Richardson’s office did inform us that the Mid-Region Council of Governments is responsible for the project and signage.”

According to Rio Grande Foundation calculations, had every one of New Mexico’s 112 legislators and Governor Richardson actually spent their own money to underwrite the Rail Runner, they would have had to contribute more than $2.8 million each. Even that substantial contribution would not have covered the $10 million per-year operating costs the system is expected to incur.

Gessing observed, “Politicians love taking credit for creating money out of thin air by claiming it was them, not taxpayers, who deserve credit for funding the goods and services provided by government. Those looking to obtain government funding are more than willing to give politicians, not taxpayers, credit for their largesse.”

While the Rio Grande Foundation supports private-sector investment in transportation solutions, most legislators are smart enough not to invest their own money in a project destined to lose $.90 on the dollar once it is operational. Unfortunately, our elected officials don’t seem quite as concerned about wise use of taxpayers’ money.