There’s less traffic in Manhattan (for now)

In the little over three weeks since being rolled out, New York City’s new congestion pricing has been a Clearasil for traffic. Tl;dr: It appears to be working – for most.

Quick reminder: On January 5, NYC enacted the country’s first policy that charges drivers a toll for entering a central business district; people coming into Manhattan at or below 60th Street during peak hours by car are now paying $9 (with higher fees for trucks and charter/tour buses) on top of existing tolls and any parking fees.

• With the policy, the city aims to raise $15 billion for mass transit infrastructure.

The data: In the two weeks following January 5, traffic entering Manhattan on the weekdays dropped by 6% compared to baseline numbers for January weekdays.

• Traffic speeds are also up, and trip times have shortened vs. before congestion pricing went into effect.
• Nearly all of the reduced vehicle entries to the congestion pricing zone appear to be due to personal vehicles no longer making the trip, according to a Bloomberg analysis.

But…Not everyone’s happy with the effects thus far – like parking garage owners and restaurateurs, who are launching margin-squeezing promotions and altering delivery schedules to adjust for the higher costs.

👀 Looking ahead: Challenges to congestion pricing await. On the state level, at least 17 bills are in motion to repeal or pare it back, while President Trump promised on the campaign trail to “TERMINATE” the policy.