Market
NYC Congestion Toll Revenue: $800 Million by End of 2025?
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Financial reports from the Metropolitan Transportation Authority (MTA)
Story
New York City's $9 Congestion Toll Aims to Raise $800 Million Annually for MTA Transit Repairs
Jan 12, 2025, 11:31 AM
New York City has implemented its congestion pricing plan, marking the first such initiative in the U.S. The plan charges drivers a $9 toll to enter Midtown and Lower Manhattan, with the goal of raising up to $800 million annually for the city's public transit system. The Metropolitan Transportation Authority (MTA) expects the revenue to fund necessary repairs and improvements. Initial reactions to the toll have been mixed, with some drivers experiencing reduced traffic and others reporting no change. The program has also led to an increase in subway ridership, with approximately 400,000 more riders per day. Critics argue that the toll is an additional tax burden, particularly for working people, while supporters see it as a step towards better public transit and reduced congestion.
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