The MTA expects the congestion pricing to start at the end of 2023. The agency hopes the program will generate $1 billion in revenue annually, as well as another $15 billion from selling bonds.
Berrang said about one year after getting approval from the Federal Highway Administration, "310 days to be exact," all construction relating to congestion pricing "will be complete, and we anticipate funding to start to flow to the MTA."
After the MTA has collected a year of revenue, he said, the agency can issue bonds for capital projects., the agency estimates that congestion pricing — also known as the "Central Business Tolling District" — would help avoid 17 million metric tons of greenhouse gas emissions and save $100 million healthcare costs from reduced emissions.
Revenue from congestion pricing will go towards paying for the cost of the infrastructure and construction, and then the monies will go to New York City Transit, Long Island Rail Road, and Metro-North, for things like new signals and train cars, as well as accessibility.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bridgestone World Solar Challenge Dates Revealed for 2023Adventure awaits for hundreds of bright international minds when the Bridgestone World Solar Challenge makes its return next year.
Read more »
US: A recession’s likely in 2023 – DoubleLine's GundlachJeffrey Gundlach, Wall Street's bond king and Founder and Chief Executive Officer of DoubleLine Capital, believes that a US economic recession is like
Read more »
Classic Theatre announces new lineup for 2022-2023 season, including free summer show🎭 The Classic Theatre has announced their new season which includes a free summer show
Read more »
Aston Martin V12 Vantage, Prodrive Hunter, 2023 BMW 7-Series: Car News HeadlinesThe final V12 Vantage, Prodrive's rally car for the road, and the next 7-Series all made headlines today.
Read more »
Energy Harbor to close or sell remaining units at Sammis coal plant in June 2023Energy Harbor is moving up its plans to shut down or sell its remaining units at one of the last coal-fired power plants left in Ohio.
Read more »
2023 Fisker Ocean electric SUV revealed: price, specs and release date22nd century styling and 390 miles of range 💪⚡️ Here's everything you need to know about the new FiskerInc Ocean
Read more »