New York is Going to Charge You More to Drive in Manhattan
You might be thinking to yourself – I already pay gas taxes, yearly registration fees, and a plethora of other taxes to drive around New York City. What do you mean New York is going to charge me more to drive around Manhattan?
If you live in the Big Apple, you might be familiar with this plan. It’s been introduced several times over the past decade, but each time its set to roll out, bureaucracy seems to get in its own way and fails to get the plan in motion. Now, it seems politicians have gotten their act together and will be moving forward with congestion pricing.
The Mayor of New York City told the Department of Finance Commissioner to devise a plan with recommendations on toll amounts and move the congestion pricing plan forward. While some are enthusiastic about the deal, which is set to use the money to fund mass transit and update severely outdated subway systems, others were furious about another tax on local residents that are reeling from a global pandemic.
The city’s objective is to reduce congestion on busy Manhattan streets and generate billions in revenue. While New York is known for its wealthy residents, who will have no problem with the added fees, the average citizen is going to take a hit. Ride-hailing services like Uber, Lyft, and taxis will take the brunt of these additional expenses and pass the increases onto riders.
While it’s still in discussion, the toll could vary based on the amount of traffic on the road, time of day, the distance traveled within the zone, and how long you drive in the zone. The pricing has not been determined just yet, but the city needs $15 billion to fulfill its obligations for repairs and improvements to the public transportation system. Sources say a $6.55 two-way fee or a $13.10 one-way fee into Lower Manhattan has been discussed to achieve their financial goals.
On the one hand, it’ll raise money for crucial structures in New York City. On the other hand, it’s another tax on citizens that already face the most expensive rent in the country and other living conditions in the country. For those of you who live in New York, driving looks to be getting more expensive. How do you feel about congestion pricing?