New York City is well known for its gridlocked traffic, which can have second-order impacts such as increased pollution, reduction in the efficiency of public transit, and more. In order to address the issue, the City has recently undertaken an exercise to look into the possibility of congestion pricing, in which cars pay to use the streets depending on the level of demand. While it has been implemented in Singapore, London, and other world cities, it would be a first for the U.S.
- Congestion pricing, a scheme where cars must pay to enter a city during busy hours, has been used successfully in international cities.
- However, it’s never been tried out domestically in any cities in the United States.
- That might be changing, as New York City is considering a proposal to study the implementation of congestion pricing.
“The biggest takeaway: It could generate between $810 million and $1.1 billion annually, which could then be used to fund critical repairs to the New York City subway.”