Nearly a month after the launch of congestion pricing in Manhattan, the MTA has yet to release revenue figures, raising concerns about money brought in versus money spent.
Many drivers, public transportation riders, and lawmakers have argued that transparency is essential for evaluating the program’s effectiveness.
But the MTA, which is historically forthcoming with information and data about its policies, says it has one main reason for not yet releasing the program’s earnings: It’s too early.
Data from various sources, including for-hire vehicle companies, needs to be collected before the agency can close its January financial books, according to agency officials.
Taxis and for-hire vehicles make up half the traffic in the Central Business District (CBD), MTA chair and CEO Janno Lieber said following the agency’s monthly board meeting on Wednesday.
“Until we close our financial books at the end of the month, we’re not going to have an accurate picture,” Lieber said. “And it’s especially true because we don’t get any information about the taxi and for-hire vehicles, which is a big source.”
Congestion pricing, which went into effect on Jan. 5, charges drivers a $9 base toll to enter Manhattan on streets and crossings south of and including 60th Street. The program, which is designed to reduce traffic congestion and generate revenue to fund improvements to the MTA’s subway, bus and commuter rail system, has been successful so far, Lieber said.
In broad terms, Lieber explained, the level of traffic is “in the ballpark” of what the MTA projected in terms of traffic after Gov. Kathy Hochul lifted the stay on congestion pricing in November.
“Roughly speaking, very preliminary, it looks, ballpark, like what we thought it was going to be,” Lieber said.
Traffic data to date
According to MTA data, more than 1 million fewer vehicles have entered the tolling zone than they would have without the toll.
Inbound commutes are getting faster, too, officials said.
Data provided by TRANSCOM — a collaboration of various groups and agencies including the city’s Department of Transportation — shows inbound trip times on all Hudson and East River crossings are now 10% to 30% faster, or more, than they were in January 2024.
Vehicles crossing the Holland Tunnel have it even better. According to TRANSCOM data, these drivers are experiencing the most improved daily time crossings, with an average 48% reduction during peak morning hours.
The Williamsburg and Queensboro Bridges are also faring well, as both are experiencing an average of 30% faster trip times.
MTA officials said they are committed to continued transparency and will provide the revenue information “in a few weeks.”
In the meantime, the agency said revenue from congestion pricing will be used to fund public transportation improvements, including the Second Avenue Subway and improvements in signalizing and accessibility at train stations throughout the city.
