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The Rail Line To Nowhere
Posted By Conn Carroll On February 25, 2008 @ 11:45 am In Energy | Comments Disabled
The Metropolitan Washington Airports Authority plan to extend Metrorail 11.6 miles to Dulles International Airport has enjoyed support from the Congressional leaders in both parties , the Governor of Virginia and the local business community. With all this political muscle, however, the plan is now on life support after the Federal Transit Administration found the project is unfit for federal funding. A quick look at some facts contained in the projects own projections  reveals why:
Estimated to cost $3.4 billion three years ago, it is now projected to cost $5.1 billion but would likely clock in at somewhere between $7.5 billion to $10 billion if ultimately built . That means taxpayers would probably pay close to $10 billion dollars to reduce traffic congestion by 1.5% for a whole two years.
This project is first and foremost about using public money to enrich private merchants and landowners in Tysons Corner. If the Tysons merchants want to pay for the bulk of the rail extension so that it can serve the Tysons shopping area that’s totally fine. Several private equity investors, including the Carlyle Group, are reviewing proposals to partner with local government  for a rail line to Dulles International Airport. Hopefully Congress and the Administration will resist the urge to subsidize this boondoggle with federal funds.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2008/02/25/the-rail-line-to-nowhere/
URLs in this post:
 Congressional leaders in both parties: http://www.washingtonpost.com/wp-dyn/content/article/2008/02/15/AR2008021503359.html
 own projections: http://www.dullesmetro.com/community/impact_report.cfm
 Estimated to cost $3.4 billion three years ago, it is now projected to cost $5.1 billion but would likely clock in at somewhere between $7.5 billion to $10 billion if ultimately built: http://www.heritage.org/Research/SmartGrowth/wm1824.cfm?renderforprint=1
 partner with local government: http://blog.washingtonpost.com/washbizblog/2008/01/can_private_equity_save_the_du.html
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