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The biggest downside is that the reason this was done had little or nothing to do with congestion. That's a side effect. It was to fill budget holes in the MTA,
by prasadjoglekar 1y ago
The biggest downside is that the reason this was done had little or nothing to do with congestion. That's a side effect. It was to fill budget holes in the MTA, which is a notorious money pit that delivers far less value than the billions if gobbles up.
There's a real chance that future cash flows from this congestion pricing are going to be securitized for today's cash payments, similar to Chicago parking.
https://www.nbcnewyork.com/news/local/nyc-transit-governor-seeks-funds-congestion-pricing-project-pause-proposed-cuts/5547636/ https://www.nbcnewyork.com/news/local/nyc-transit-governor-s...
- zahlman 1y ago> the reason this was done had little or nothing to do with congestion. That's a side effect Then why, out of the countless alternatives, did they choose to raise the funds this way?
- prasadjoglekar 1y agoAu contraire, there aren't countless alternatives. Raise fares, raise taxes or impose a penalty on drivers, most of whom you think will come from Long Island, NJ and CT They chose the most politically palatable option.