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Transportation Research Board Conference Proceedings 48 ISSN 1073-1652 ISBN 978-0-309-22307-2 Subscriber Categories Finance; policy Transportation Research Board publications are available by ordering individual publications directly from the TRB Business Office, through the Internet at or, or by annual subscription through organizational or individual affiliation with TRB. Affiliates and library subscribers are eligible for substantial discounts. For further information, contact the Transportation Research Board Business Office, 500 Fifth Street, NW, Washington, DC 20001 (telephone 202-334-3213; fax 202-334- 2519; or e-mail Printed in the United States of A merica. NOTICE: The project that is the subject of this report was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The members of the committee responsible for the project were chosen for their special competencies and with regard for appropriate balance. This report has been reviewed by a group other than the authors according to the procedures approved by a Report Review Committee consisting of members of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. This project was sponsored by the Louisiana Department of Transportation and Development; the Federal Highway Administration; the American Association of State Highway and Transportation Officials; the American Public Transportation Association; the Galvin Mobility Project; the National Transportation Center, Morgan State University; and the Transportation Research Board. Committee for Financing Surface Transportation in the United States: Fourth International Conference Kay McKinley, PBS&J, Chair Asha Weinstein Agrawal, San Jos State University William Ankner, Transportation Solutions James M. Bass, Texas Department of Transportation Sharon Greene, Sharon Greene and Associates Paul F. Hanley, University of Iowa Tamar Henkin, High Street Consulting Group, LLC Brian T. Howells, Halcrow, Inc. Robena G. Reid, Federal Transit Administration Transportation Research Board Staff Mark Norman, Director, Technical Activities Martine Micozzi, Senior Program Officer, Management, Policy, and International Relations Matthew A. Miller, Senior Program Associate TRB Publications Office Norman Solomon, Editor Javy Awan, Production Editor Kristin C. Sawyer, Proofreader Jennifer J. Weeks, Manuscript Preparation Juanita L. Green, Production Manager Cover design by Beth Schlenoff, Beth Schlenoff Design Typesetting by Carol Siegel, Grammarians