Until you provide proper transit and stop expanding roads and parking (which surely will degrade driving experience) and make new neighborhoods walkable (see above) demand for driving will not fall even if it becomes more expensive. Only the poor will be hurt.

There are many roads overbuilt for the kind of traffic they face. Cutting them down to size is an excellent idea. Providing light and heavy rail is also great. Buses have limitations and still require expensive infrastructure for high level of service.