Just over a week after its launch on January 5, New York City’s congestion pricing program has yet to release details on its financial performance. The Metropolitan Transportation Authority (MTA) is still sorting through data and prioritizing the program’s impact on traffic congestion.
According to MTA officials, traffic within the Congestion Relief Zone (CRZ) has decreased by 7.51% compared to last year’s same period. The agency is creating a congestion-pricing data dashboard that will be updated monthly and made available to the public in February.
While financial data for the program is expected to be released soon, officials say it’s crucial given the toll revenue’s projected impact on the MTA’s funding for transit improvements. The program aims to generate up to $500 million annually to support projects like subway signal upgrades, station accessibility expansions, and large-scale expansion initiatives.
Concurrently, the traffic control program has influenced transit ridership, with passenger increases reported on express buses, particularly those serving eastern Brooklyn, Staten Island, and the Rockaways. Local and express bus routes crossing major rivers have seen significant reductions in travel time. The MTA’s data also shows a decrease of 219,000 vehicles entering the CRZ within its first week.
Source: https://www.amny.com/news/mta-congestion-pricing-revenue-traffic-declines