Drivers would pay $15 to enter busiest part of Manhattan under plan to raise funds for mass transit [MarketWatch]
Uber Technologies, Inc. (UBER)
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Source: MarketWatch
Want to see it on more articles? Give your feedback below or email audiofeedback@marketwatch.com thumb-stroke-medium thumb-stroke-medium NEW YORK — Most drivers would pay $15 to enter Manhattan's central business district under a plan released by New York officials Thursday. The congestion pricing plan, which neighboring New Jersey has filed a lawsuit over, will be the first such program in the United States if it is approved by transportation officials early next year. Under the plan, passenger car drivers entering Manhattan south of 60th Street during daytime hours would be charged $15 electronically, while the fee for small trucks would be $24 and large trucks would be charged $36. Cities such as London and Stockholm have similar programs in place, but New York City is poised to become the first in the U.S. Advertisement Revenue from the tolls, projected to be roughly $1 billion annually, would be used to finance borrowing to upgrade the city's mass transit systems.
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