Variable MBUFs help mitigate traffic congestion and create substantial new revenue to maintain infrastructure.
Analysts have generally attributed the limited use of MBUFs in the United States to motorists' opposition to new rates and fees.
A new approach to gaining taxpayer acceptance of new, reliable infrastructure-funding sources such as MBUFs is needed.
The IP3 approach helps address the policy shortcomings of the current approach while demonstrating clearly to motorists the benefits of MBUFs in funding roads, mitigating congestion, and directing transportation investment to its highest-valued use.
P3s facilitate the implementation of MBUFs on specific facilities and offer all the benefits associated with them, without the need for taxpayer-provided funding.
The IP3 approach combines the benefits of adopting MBUFs with those created by a legally protected permanent fund.
Although many mechanisms have been proposed to address the problems described here, there is widespread agreement that a system of variable MBUFs is the most appealing.
Variable MBUFs attach a transparent price to the service provided by roads, which is the movement of a vehicle from one point to another.
Variable MBUFs allow motorists to know the true social costs of their decision to use (or to refrain from using) a road, bridge, or tunnel at a particular time of day.
Variable MBUFs provide a clear, objective signal of where motorists most value additional investment in transportation infrastructure.