Thursday, February 18, 2010

DMI reports on the Congestion pricing debate for Manhattan

John Petro reports on their latest research:

An $8 daily charge on cars entering or leaving Manhattan below 86th St. between 6 a.m. and 6 p.m., Monday through Friday, would generate $400 million or more a year in revenue to keep fares reasonable and support vital maintenance, repair and expansion of subways and buses. It would also reduce costly traffic delays on overburdened city streets as drivers change their habits to avoid paying a toll during peak hours. On this, the facts are clear and striking: Drivers in London enjoyed a 30% drop in traffic delays once the city implemented congestion pricing.

Congestion pricing is coming very soon to NYC because it cuts out the Statehouse. Using this mechanism, metropolitan planners can avoid the State bankruptcy issue.

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