New York City’s congestion pricing aims to reduce traffic, cut carbon

Officials recently released an environmental assessment that analyzes seven different possible pricing schemes for New York City’s congestion pricing program.

The program, expected to begin in late 2023 or early 2024, would charge vehicles a fee for entering the city’s central business district in lower Manhattan south of 60th Street. The study examined the potential impact of various fee structures ranging from $5 to $23 for passenger cars and $12 to $82 for commercial trucks.

Emergency vehicles and those transporting people with disabilities would be exempt. Low-income residents who live inside the zone would be eligible for state tax credits.

All fee systems studied except one would raise at least $1 billion per year. The volume of vehicles entering the central district would decline by 15% to 20% and public transit ridership could increase by up to 2%, the study found.

The U.S. Department of Transportation must approve the city’s plan before it can be implemented.