A new report estimates the Texas bullet train could cost taxpayers $21.5 billion and concludes that privately funded high speed rail is not a feasible mode of transit outside of the Northeastern United States.

The report from the Reason Foundation estimates that the proposed Texas Central Partners project between Dallas and Houston will operate at a $537 million annual operating deficit over the its first 40 years of operations.

The report also touches upon the feasibility of other proposed privately…