Governor Kathy Hochul announced on Thursday that New York City’s congestion pricing program, which was put on hold before its scheduled start date of June 30, will now be implemented by early January 2025. The governor’s plan includes a reduction of tolls by 40% for vehicles entering Manhattan below 60th Street and also introduces new measures to decrease traffic and air pollution throughout the city. This aligns with the goals of congestion pricing and will provide $15 billion in funding for mass transit to support the Metropolitan Transportation Authority’s current Capital Program.
While this plan offers lower toll rates than originally proposed, it still allows the MTA to secure $15 billion in bonds over time for their Capital Program according to Governor Hochul’s office. Additionally, she has committed to funding the MTA Capital Plan from 2025-2029 that was approved by their board in September.
The proposal has received widespread support from various stakeholders including Regional Plan Association, League of Conservation Voters, Natural Resources Defense Council, Partnership for New York City and Real Estate Board of New York. Pictured alongside Governor Hochul is MTA chair and CEO Janno Lieber.
