Congestion pricing is working, MTA officers stated Monday, releasing information that confirmed the congestion pricing toll generated $48.7 million in gross income for January.
The income information comes because the Trump administration seeks to kill the congestion toll by revoking a federal authorization given final yr permitting the MTA to fund the capital plan with toll income. The feds declare this system is someway unlawful as a result of it focuses an excessive amount of on income era and never sufficient of congestion reduction.
The toll, through which most drivers are charged $9 to enter floor streets at sixtieth St. and beneath in Manhattan, is supposed to scale back vehicular site visitors whereas concurrently elevating sufficient income to again $15 billion in bonds for a number of MTA capital initiatives.
MTA officers have beforehand stated they should elevate roughly $500 million a yr in an effort to again the bonds — a mean of roughly $41.7 million a month.
Congestion pricing started on Jan. 5 — which means the primary 4 days of the month usually are not mirrored within the information launched Monday.
Whereas Monday’s income figures clear the MTA’s bar for funding the bond difficulty, the primary month of tolling fell $3.4 million in need of the company’s December projection of $52.1 million, based on MTA monetary paperwork. On the identical time, anticipated bills to run the tolling program in January fell by $5.5 million — from $16.6 million to $11.1 million.
MTA information reveals the toll can also be decreasing congestion, nevertheless. Throughout the month of January, cross-river drive occasions plummeted a mean of 10-30%. The typical morning commute time into Manhattan by way of the Holland Tunnel dropped 48%.
Total vehicular quantity has dropped a comparatively modest 5%.
Initially Printed: February 24, 2025 at 11:50 AM EST
