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.
Judge Extends NYC Congestion Pricing Through at Least June 9
A federal judge halted the Trump administration’s effort to kill the program, which remains in limbo as a lawsuit filed by the MTA moves forward.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
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.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)