NYC to launch congestion charge
New York City is set to follow London in rolling out a congestion charge. Under the plan, anyone driving south of Central Park in Manhattan will need to pay a toll, with prices to be fixed before end-2019.
New York governor Andrew Cuomo clearly sees a congestion charge as levying out-of-towners rather than New Yorkers – he contends that most vehicles hitting Manhattan streets come in from other states.
Funds raised will go towards improving the subway system, with as much as $60bn required over five years to for improvements.
According to estimates generated by Partnership for New York City, the New York metro area stands to lose $20bn a year for the next five years if nothing is done to tackle the city’s traffic problem. The organisation, which represents the city’s business leaders and large private sector employers, says $9.2bn is the annual cost of delay in commuting time and work-related travel alone, representing the largest share of the total cost of congestion.