New York's Congestion Charge: The $8 Proposal

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Market Movers

by Ryan Avent

Main

When Sovereign Wealth Funds Invest f... Payrolls: Ignore Them If You Can

Jan 31 2008 4:24PM EST

Aaron Naparstek has details of the Traffic Congestion Mitigation Commission recommendation with respect to NYC's congestion charge. It differs from the original Bloomberg proposal in a number of respects, and I have to say I like it: it's much simpler, for starters, charging cars only when they enter a zone south of 60th Street rather than trying to keep track of all cars once they enter the zone.

The plan also involves hiking on-street parking meter rates, which is a vital part of dissuading drivers from entering the CBD in the first place. The congestion charge under this scheme is $8, to be paid by any car entering the zone between 6am and 6pm on a weekday. Simple, easy to understand, effective. Let's do it!

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