"After years of wrangling, millions in infrastructure investments, and promises to tackle gridlock, the city's congestion pricing plan is finally set to kick into action on January 5th, 2025. Most cars looking to go below Manhattan's 60th street will have to pay $9 per day, while larger trucks and tourist buses will pay $21.6. The goal of congestion pricing is simple: reduce the number of vehicles to ease gridlock and improve air quality. Drivers entering the Central Business District (CBD) during peak hours would pay a fee. Authorities estimate a $15 billion revenue that would support public transit and critical transit repairs for the city."
"The move is groundbreaking for the US, but it's not a global premiere. Singapore was the first country to introduce congestion pricing on its urban roads in 1975, refining it in subsequent years. London also has one of the most impactful congestion taxes in the world, which was largely hailed as a success. Pioneered in 2003, the tax raises around £229 million ($290 million) a year and reduces traffic not just in the charge area, but also in the suburbs. A 2024 study found that the charge had a progressive impact, being most beneficial for low-skill commuters who benefitted from less traffic."
New York City will begin congestion pricing on January 5, 2025, charging most cars $9 per day to enter below 60th Street and larger trucks and tourist buses $21.60. The policy aims to cut vehicle volumes, ease gridlock, and improve air quality while generating an estimated $15 billion to fund public transit and critical repairs. Traffic in New York currently costs about $9 billion annually. Singapore introduced urban congestion pricing in 1975, and London launched a congestion tax in 2003 that reduced traffic and raised substantial annual revenue. A 2024 study found London's charge benefited low-skill commuters by reducing traffic.
Read at ZME Science
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