Gov. Kathy Hochul officially revived congestion pricing at a Thursday announcement. The Manhattan tolls, which will take effect at the start of 2025, were slashed by 40% from the rates that were originally approved under the paused June plan.
The toll for most motorists entering Manhattan south of 60th Street will be reduced from $15 to $9. Rates are also set to be reduced across the board by 40%, including for small and large trucks and discounts for overnight trips into the central business district.
The tolls, originally set to go into effect on June 30 before Hochul paused it weeks before the start date, will now start being collected in January 2025.
The governor said the reduced tolls are still expected to be enough collateral to raise $15 billion from the bond market for capital improvements to the MTA system, including extending the Second Avenue Subway, replacing ancient subway signals that frequently break, rolling out a new generation of railcars, and improving accessibility in the subway system.
What’s more, the governor also directed the MTA to improve bus service on 23 routes in the outer boroughs.
This is a developing story; check with amNY.com later for updates.
