Innovative financing of highways

Innovative financing of highways

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The federal government provides about $20 billion a year in grants to states for highways; most of the money is raised through taxes on motor fuels. States, in financing their road-building programs, also rely heavily on motor fuel taxes and on fees paid by highway users. But these revenues are insufficient. This study reviews several approaches to augment traditional sources of funding for highways. The analysis covers changes in rules governing federal aid, state infrastructure banks, federal credit assistance, and private-sector financing of roads. Charts and tables.Like other investments, judiciously selected highway projects have the potential to yield benefits over many years. ... in the cost of capital that could have been used for alternative income-generating ventures, the project is a worthwhile investment for the community. ... toll ratea€”May be so low that revenues from a toll set at that level will not cover debt service, operations and maintenance, and other costs.

Title:Innovative financing of highways
Author:United States. Congressional Budget Office
Publisher:Congressional Budget Office - 1998-02


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