Joshua Chaffin of the Financial Times reports on New York’s congestion pricing scheme.
- New York City recently passed a plan to enact congestion pricing, much to the ire of New Jersey residents.
- Under the plan commuters would be charged higher rates to cross into the city at busier times of the day.
- The increased tolls would fund public transit in NYC and incentivize commuters to find more efficient transportation methods like carpooling or taking the train.
- Congestion pricing is an effective way to reduce emissions and traffic.
“The New York plan, which could begin next May, would charge drivers who cross below 60th Street in Manhattan, perhaps as much as $23 a trip. The objective is to reduce traffic and air pollution in the city while delivering $1bn a year to the Metropolitan Transportation Authority to upgrade the city’s subways and buses. A win-win-win, it would seem.”
Read the full article here.