The agency will lose hundreds of millions in projected congestion pricing revenue, forcing cuts to expansion plans.
As the ripple effects of the delay of New York City’s congestion pricing program become more clear, the head of the New York Metropolitan Transportation Authority (MTA) says the agency’s budget could take a hit of $800 million.
According to an article by Dan Zukowski in Smart Cities Dive, the loss could delay equipment purchases, raise maintenance costs for existing, aging equipment, and force MTA to pay thousands of employees from the operations rather than capital budget. “As part of the pause, if cash flow is required, the MTA would need to issue billion dollars of debt earlier in the financial plan than previously planned,” said MTA deputy CFO Jai Patel.
MTA CFO Kevin Willens added, “The impact of the congestion pricing pause has not yet been incorporated into the budget beyond 2024 under the assumption either that the pause will be lifted or the replacement revenue will be provided.” If the program is never implemented, the MTA’s future budget will be significantly impacted.
More on New York City’s congestion pricing program:
- Tri-State Economies to Lose Billions From Congestion Pricing Pause
- NYC Traffic Moving At Under 7 MPH, Congestion Pricing Remains Suspended
- New York MTA Upholds Pause on Congestion Pricing, Scales Back Projects
- Congestion Pricing Compromise?
- NYC Congestion Pricing Postponed Indefinitely in 'Stunning Reversal'
FULL STORY: New York transit chief paints grim picture for MTA without congestion pricing revenue
New York MTA Seeks New Funding Sources
The agency plans to negotiate new options for operational funding as farebox and toll revenue lingers far below pre-pandemic levels.
Op-Ed: NYC Transit Service Cuts Wrong Way to Bolster Budget
The agency could see an influx of capital funds from congestion pricing, but cuts to bus and rail service to make up for budget shortfalls would result in long-term setbacks to the system.
Is Trump’s Reversal of Congestion Pricing Legal?
Gov. Hochul says New York City will “keep its cameras on.” Can the administration legally end the nation's first cordon pricing program?
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
Test News Post 1
This is a summary
Test News Headline 46
Test for the image on the front page.
Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service