It is one of the roads pricing policy whose implementation is aimed at achieving and recouping cash for roads construction and maintenance purposes. With the policy implementation, there has been a conversion of major high occupancy lanes to a high occupancy toll road which is necessitated by public-private partnerships. Introduction of toll lanes is aimed at reducing congestions in major roads (Gary, 2012).
Toll charges imposed are relatively much cheaper as compared to other traditional forms such as the congestion charge schemes. For instance, the user to this roads pays the charge concerning road usage and distance traveled along the roads. This makes the roads more efficient and effective especially because there’s reduced congestion. The system also has led to increased fuel economy due to increase in transportation system capacity (Gary, 2012). With reduced congestions on the roads, minimal cases of accidents have been reported due to the even transport system which attracts individuals to use these roads. The government, on the other hand, can impose high way taxes as a way to regulate traffic on the roads.
However negative implication of this financing policy is the extra expense incurred in toll collection which draws an interest on the cost of borrowing funds. The financing system should not only be argued on economic background alone rather we should look into other financing sources such as taxes from the gas revenue.
Enhancement and usage of these roads have reduced air pollution to a greater extent. This is attributed to the fact that motorists spend many hours in the traffic and ends up wasting fuel through emission of the greenhouse gas to the environment. Through the policy, it has reduced number of road users which reduces emissions to the environment hence increasing the quality of air.
Gary Hausdorfer. (2012). Seven Reasons Toll Roads are Essential. Retrieved from http://www.cofirouteusa.com/seven-reasons-toll-roads-are-essential