The Manhattan MTA reveals it may implement a congestion toll in April 2024, which it expects to reduce car traffic and increase mass-transit use.
will give final approval after a 30-day public review period, a significant milestone that will allow construction to begin on the tolling gantries.
MTA officials expect congestion pricing to bring in $1 billion in new revenue a year that the agency will bond against to raise $15 billion. Those funds will help finance major capital projects like expanding the Second Avenue Subway to Harlem, updating the subway signal system and adding more elevators and escalators to stations to make them accessible.
Residents of the Manhattan district with incomes below $60,000 will be granted a state tax credit. The final review also includes lower overnight tolls than what the MTA projected in August, an attempt to encourageOfficials estimate the tolling plan will reduce the amount of daily vehicles entering the district by as much as 20% and help boost mass-transit ridership, according to the final environmental review.
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