Public-private partnership

Better communication will be key in future P3s, a top Maryland transportation official said.

Maryland blames a "post-pandemic market" for cost increases lifting the light rail line's price tag to $9.28 billion. The system is to open four years late in 2026.

It would mark only the third transit P3 in the country and would be under pressure to deliver without the problems that dogged the other two.

Inflation, labor shortages and implementation uncertainties loom as the Infrastructure Investment and Jobs Act moves into center stage next year.

Bringing on private partners early to help design a project through a progressive development agreement can reduce uncertainties and mean more accurate pricing.

The new tax-exempt private activity bond categories for broadband and carbon capture projects are designed to avoid straining state volume cap.

Local governments are still processing funds from the CARES and ARPA bills.

The Build Back Better reconciliation bill would raise the SALT cap to $80,000 from $10,000, and that impact varies widely from state to state.

Assets ranging from airports, utilities and toll roads may come into play under P3 provisions in the infrastructure bill, which could attract public pension infrastructure investment.

A study by the Reason Foundation attempts to solve the problem of paying both tolls and fuel taxes on the same highway and offers a blueprint for how states can allocate toll revenue.