Chapter
Apr 26, 2012
Infrastructure Innovation — Turning Public Works into Private Ventures
Publication: Transportation and Development Innovative Best Practices 2008
Abstract
The U.S. government allowed the Interstate System to become compromised when it failed for decades to properly adjust for inflation the gasoline excise tax used to fund the system and increasingly diverted federal fuel-tax revenues to purposes other than roads. In addition, during the same time period, increases in the cost of road construction significantly outpaced inflation. Privatization, on the other hand, will bring about a series of benefits: it will provide new, much-needed, private capital; facilities will be built more quickly and more efficiently and operated more cost-effectively; execution and pricing risk will be transferred from the public sector to private investors, which can bear more risk and thus may develop more innovative solutions; and new sources of tax revenue will be created.
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Copyright
© 2008 American Society of Civil Engineers.
History
Published online: Apr 26, 2012
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ASCE Technical Topics:
- Business management
- Construction engineering
- Construction industry
- Construction management
- Energy engineering
- Energy sources (by type)
- Financial management
- Fuels
- Gasoline
- Government
- Highway and road management
- Highway transportation
- Highways and roads
- Infrastructure
- Innovation
- Non-renewable energy
- Organizations
- Petroleum
- Practice and Profession
- Private sector
- Revenues
- Taxation
- Transportation engineering
Authors
Affiliations
E.I.T., AAAS Congressional S&T Policy Fellow, Office of US Senator Mary L. Landrieu (D-LA), 724 Hart Bldg., Washington, D.C. 20510. E-mail: [email protected]
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