Congestion pricing, implemented on January 5, charges vehicles entering Lower Manhattan below 60th street during peak hours. It successfully reduced the number of vehicles by 67,000 daily, resulting in a decrease in traffic delays—especially a 65% reduction at the Holland Tunnel. Public transportation usage has increased: subway ridership is up 7%, bus ridership is up 12%, and LIRR ridership is also up. The program is projected to generate $500 million in revenue by 2025, facilitating $15 billion in improvements across various transit systems.
Gov. Kathy Hochul stated, "Six months in, it's clear: congestion pricing has been a huge success, making life in New York better." This highlights the effectiveness of the program.
The dip in vehicle volume has led to substantial drops in traffic delays, with rush hour delays at the Holland Tunnel down 65%, saving drivers significant time.
Subway ridership is up 7%, bus ridership up 12%, and LIRR ridership up 8%, showcasing an increase in public transportation usage since congestion pricing was implemented.
Congestion pricing is projected to generate $500 million in revenue in 2025, allowing the MTA to proceed with $15 billion in improvements to transportation infrastructure.
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