From the Introduction: "Growing demands on the transportation system and constraints on public resources have led to calls for more private-sector involvement in the provision of transportation infrastructure through what are known as 'public-private partnerships' or 'P3s.' As defined by the U.S. Department of Transportation (DOT), 'public-private partnerships (P3s) are contractual agreements between a public agency and a private-sector entity that allow for greater private-sector participation in the delivery of transportation projects.' Typically, the 'public' in public-private partnerships refers to a state government, local government, or transit agency. The federal government exerts influence over the prevalence and structure of P3s through its transportation programs, funding, and regulatory oversight, but is usually not a party to a P3 agreement. This report discusses the benefits and limitations of P3s that involve long-term private financing, the experience with these types of P3s in the United States, and current federal policy. The report outlines a number of issues and policy options that Congress might consider: project evaluation and transparency, asset recycling, incentive grants, infrastructure banks, tax credits for equity and debt, Interstate highway tolling, and changes to an existing federal loan program."
CRS Report for Congress, R45010
Congressional Research Service: https://crsreports.congress.gov/