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 12 months 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 technology and never sufficient of congestion aid.
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 visitors whereas concurrently elevating sufficient income to again $15 billion in bonds for a number of MTA capital tasks.
MTA officers have beforehand stated they should elevate roughly $500 million a 12 months so as to again the bonds — a median of roughly $41.7 million a month.
Congestion pricing started on Jan. 5 — which means the primary 4 days of the month are usually not mirrored within the information launched Monday.
Whereas Monday’s income figures clear the MTA’s bar for funding the bond concern, the primary month of tolling fell $3.4 million in need of the company’s December projection of $52.1 million, in line with MTA monetary paperwork. On the similar 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 be decreasing congestion, nevertheless. In the course of the month of January, cross-river drive occasions plummeted a median of 10-30%. The typical morning commute time into Manhattan by way of the Holland Tunnel dropped 48%.
General vehicular quantity has dropped a comparatively modest 5%.
Initially Revealed: February 24, 2025 at 11:50 AM EST
