New York’s aging transportation infrastructure needs $100 billion+ in modernization, service improvements and expansion. Some of the funding must come from Washington, which is signaling that states should be prepared to come up with a public-private match, as well as cost reductions and elimination of legal and regulatory barriers.
New York needs to act now if it hopes to compete successfully for federal funding and to deliver critical infrastructure projects in a timely and cost-effective manner.
A congestion pricing zone in Manhattan would generate an stimated net annual revenue of $1.1 billion for transit improvements.
Congestion pricing would reduce congestion by 14%.