Chocolate pricing

NYC congestion pricing advances could start within 18 months

TRENTON — New York officials have named their appointees to the panel that will finalize congestion pricinga key step to put a new toll on drivers in New Jersey and those in other states by early 2024.

Congestion pricing is expected to reduce private vehicle traffic in Manhattan below 60th Street and provide the Metropolitan Transportation Authority with a substantial flow of money for capital projects.

The Traffic Mobility Review Board will establish the final details of congestion pricing, such as price and hours of operation. The MTA appointed its five members; the other will come from New York Mayor Eric Adams.

Renae Reynolds, executive director of the Tri-State Transportation Campaign, said the nominations are “a critical next step” forward.

“The agency must act quickly to save our streets from crippling traffic, reduce greenhouse gas emissions as we face a climate emergency, and increase revenues to make desperately needed improvements to century-old transportation infrastructure. “, said Reynolds.

New York law requires the program to earn about $1 billion a year, which the MTA would use as collateral to sell $15 billion in bonds to complete some of its $55 billion construction plans.

The final round of six public hearings will begin next month, focusing on the plan’s environmental impact. These will be held online from August 25 to 31.

The Congestion Pricing Now coalitionwhich includes more than 30 organizations, said congestion pricing must be implemented quickly.

“We must toe the line on exemptions if we are to achieve the goals of the program enacted by the New York State Legislature” in 2019, the coalition said.

The Traffic Mobility Review Board will consider exemptions, such as allowing New York residents to pay a small monthly fee to enter the area south of 60th Street without paying a toll each time.

The MTA also revealed that it now expects to use all of its federal pandemic recovery funds within two years, by the end of fiscal year 2024, and could miss more than 2 $.7 billion a year in revenue thereafter.

Michael Symons is the Statehouse Bureau Chief for New Jersey 101.5. You can reach him at [email protected]

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