New York is about to try congestion pricing. Will it be a miracle or meh?
Sam Schwartz knew that New York’s crippling traffic jams were bad for the city long before he coined the term that would become synonymous with urban automotive nightmare. As a young New York City traffic engineer in the 1970s, Schwartz worked on never-implemented plans to close midtown Manhattan to cars at midday and charge tolls on 14
Last month, New York Governor Andrew Cuomo and state legislators agreed on a plan to make all of Manhattan south of Central Park—the business-dense end of the island—a congestion-pricing zone. The tolls, estimated at $12 to $14 per car and $25 per truck weekdays and levied using EZPass devices and license-plate cameras, will raise $1 billion a year to improve New York City’s transit system.
Ironically, it was a New Yorker who invented congestion pricing—the late Columbia University economist and Nobel laureate William Vickrey. But until now, it’s been most widespread overseas. It has reduced central-city traffic in Singapore by 44 percent and in Stockholm by 10 to 15 percent, and it’s cut traffic delays in central London by a quarter.
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