The New York Metropolitan Transportation Authority has scheduled virtual public hearings in August for proposed Congestion Pricing Tolls for entering Manhattan south of 60th Street. If approved, NJ residents will be paying a portion of revenues generated by Congestion Price Tolling. The New York Metropolitan Transportation Authority estimates it will generate $1 billion annually. These revenues will be used to leverage another $2 billion annually via bonding. This is supposed to raise $15 billion that which will help pay for the MTA $51 billion 2020 - 2025 Five Year Capital Plan. Both NJ Transit and the Port Authority have similar multi year Capital Plans. New Jersey residents should consider asking for a fair share of revenues generated by these new tolls that they will be paying.
Some of these dollars could go toward the NJ share for the $14 billion (two new Hudson River plus rehab of two existing tunnels) or $33.4 billion full scope Gateway project, $10 billion Port Authority 42nd Street Bus Terminal, NJ share of $2 billion toward Governors Hochul & Murphy’s $8 billion Penn Station redevelopment project, NJ Transit and PATH capital programs or other transportation improvements that would benefit NJ residents. After all, fair is fair. Thousands of New Yorkers are reverse commuters traveling from Penn Station, Herald Square and the Port Authority 42nd Street bus terminal to jobs, schools, sports stadiums, entertainment, Newark Airport and other New Jersey destinations who benefit by NJ Transit, Port Authority and PATH capital investments.
Larry Penner
Great Neck