The Promise and Potholes of Privatization
From Indiana to Virginia, states and cities are turning their public toll roads over to private companies for long-term leases, some of which will last almost a century. Because motorcoaches rely on our national network of roads to conduct our daily business, it seems to me that the practice deserves a closer look. Both its promise and, yes, potholes ought to be scrutinized.
On the one hand, privatization may make the operation of roads more efficient. By creating incentive to satisfy customers, roads may be repaired sooner and tolls collected faster. Also, suppose that governments that sold the roads use the money to invest in long-term goals, such as maintaining and building other roads. Well, the whole transportation network would be improved.
On the other hand, governments may not invest the new money in transportation. Perhaps they have health or education or even arts programs that they wish to support with the money they receive from leasing their toll roads. That could pose a problem. The federal government and states have spent billions building and maintaining public roads. To divert the money elsewhere could lead to inferior infrastructure. This potential problem is even more glaring considering that some state highway trust funds are awash in debt.
Should we accept that toll roads represent another way to create long-term funding? If so, shouldn’t we demand that some of the revenue support the rest of the network?
Posted by Peter Pantuso, American Bus Association President on July 12, 2006 at http://www.busesoverdrive.org/
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