This paper presents a new path-based algorithm for the static user equilibrium traffic assignment problem. Path-based algorithms are generally considered less efficient than bush-based counterparts, such as Algorithm B, traffic assignment by paired alternative segments (TAPAS), and iTAPAS, an improved version of TAPAS, because explicitly storing and manipulating paths appears wasteful. However, ... [Show full abstract] our numerical experiments indicate that the proposed path-based algorithm can outperform TAPAS or iTAPAS by a wide margin. The proposed algorithm, sharing the same Gauss-Seidel decomposition scheme with existing path-based algorithms, delivered a surprising performance, most likely due to its two main features. First, it adopts a greedy method to solve the restricted subproblem defined on each origin–destination (O-D) pair. Second, instead of sequentially visiting every O-D pair in each iteration, it introduces an intelligent scheme to determine which O-D pairs need more or less work. The proposed algorithm is also more straightforward to implement than bush-based algorithms.