New York Governor Kathy Hochul has announced the revival of a congestion pricing plan in Manhattan. The plan aims to impose a $9 toll on most vehicles entering the city during peak hours.
The previous version of the plan was halted due to concerns about its financial impact on residents after the pandemic. The new toll structure is designed to balance the need for funding public transportation improvements while minimizing the economic burden on New Yorkers.
The plan proposes a lower toll than the initially planned $15 charge for cars entering below 61st Street. The revenue generated from the toll, estimated at $15 billion, will be used to modernize the city's transit infrastructure.
New Jersey Governor Phil Murphy has opposed the plan, citing economic challenges and inflation. However, Hochul believes the congestion pricing plan is essential for improving air quality and reducing gridlock in the city.
Proponents of congestion pricing argue that it could lead to a 17% reduction in the number of vehicles entering Manhattan's Central Business District. This reduction is expected to alleviate traffic congestion and improve air quality. The plan could serve as a model for other cities grappling with urban congestion and environmental sustainability.
The plan is expected to be approved by the Metropolitan Transportation Authority (MTA) board and implemented in January. The success of the plan will depend on its ability to balance the needs of commuters with the necessity of funding infrastructure upgrades.