Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » Manhattan drivers face $9 fee in first such US effort to fight gridlock By Reuters
    News

    Manhattan drivers face $9 fee in first such US effort to fight gridlock By Reuters

    userBy userJanuary 6, 2025No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    By David Shepardson

    WASHINGTON (Reuters) – New York City drivers on Monday had to pay $9 to enter Manhattan under the first such congestion fee in the U.S., which seeks to raise billions for mass transit and reduce traffic jams.

    The fee went into effect on Sunday after New Jersey failed on Friday to convince a judge to halt it pending an appeal.

    The city rushed to implement the charge before President-elect Donald Trump’s inauguration on Jan. 20. Trump, who has a Manhattan residence, opposes the fee and said he would seek to block it.

    New York is imposing the $9 charge on passenger vehicles in the daytime in Manhattan south of 60th Street. Trucks and buses will pay up to $21.60. The fee is reduced by 75% at night.

    Charged via electronic license plate readers, private cars will pay once a day regardless of how many trips they make. Taxis will pay 75 cents per trip and ride-share vehicles reserved by apps like Uber (NYSE:) and Lyft (NASDAQ:) will pay $1.50 per trip.

    While New York is the first U.S. city to impose such a toll, London implemented one in 2003, and the fee is now 15 pounds ($19).

    Sarah Kaufman, director of New York University’s Rudin Center for Transportation, said Monday that the experience of other world cities shows that the charge initially is very unpopular.

    Then residents “began to appreciate the reduction in traffic and the increased transit services. So ideally, that’s what will happen here in New York,” she said.

    New York’s Metropolitan Transportation Authority said the program will result in 80,000 fewer cars a day, about an 11% reduction, in what it called the most congested district in the United States.

    More than 700,000 vehicles enter the Manhattan central business district daily, slowing traffic to around 7 mph (11 kph) on average. That is 23% slower than in 2010.

    The city estimates the congestion charge will bring in $500 million in its first year. New York Governor Kathy Hochul said the money would underpin $15 billion in debt financing for investment in subways, buses and other mass transit improvements.





    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleIntuit EVP and CFO Sandeep Aujla sells $68,506 in stock By Investing.com
    Next Article Tech leads stocks higher as Nvidia surges to record high
    user
    • Website

    Related Posts

    With a spare £200, here’s how someone in their 20s could start buying shares today

    June 8, 2025

    Up 20% in a week! This growth stock is on fire – should I consider buying it?

    June 8, 2025

    If I could only save one UK share in my SIPP, here’s what it would be

    June 8, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d