The Road to Renewal
Private Investment in U.S. Transportation Infrastructure
The U.S. transportation system comprises approximately 3.9 million miles of public roads and highways, on which Americans drive over 3 trillion miles each year. Presently funded through a combination of fuel and vehicle taxes and government grants, this system is vital to the nation’s prosperity. Yet, despite record levels of government spending, America's transportation system is plagued by traffic congestion, decaying infrastructure, and politicization of transportation funding--leading to calamities. In surveying the current state of the transportation system, Geddes finds the existing policy approach is in desperate need of repair. Drawing on the basic economic principles behind supply, demand, competition, and incentives, he argues that an increased use of public–private partnerships (PPPs), could significantly improve the quality of America's transportation infrastructure. Geddes shows how incorporating increased private participation can halt the deterioration of America's transportation system and become the foundation for a safer, more efficient transportation future.