Submitted by King-of-New-York t3_ylio53 in nyc
LunacyNow t1_iv0eesj wrote
The fate of the MTA has been been in the MTA's own hands since its inception. Decades of corruption and irresponsible fiscal policy have put them in this situation. Congestion pricing is a tax. It will not come near generating the $1 billion that they think it will. Even if it does it still won't fill the projected $ 2.5 billion dollar budget gap in 2024. And this is AFTER they burned through $15 billion dollars in federal emergency aid.
https://www.thecity.nyc/2022/7/25/23278062/mta-fiscal-cliff-federal-funds-near-end-of-line
TeamMisha t1_iv18si7 wrote
Why do you not believe in the revenue forecast? Did you do a traffic analysis to show differently?
LunacyNow t1_iv2jaas wrote
The $1 billion is not a forecast as much as it is a mandate set by the legislature. The goal is to hit $1 billion dollars whatever it takes.
In general these types of programs never generate the revenue that is expected. Throw in all of the carve outs and the 'ingenuity' of people to find workarounds and you'll be hard pressed to hit that number. As it's a mandate to hit $1 billion the only option at that point will be to raise the fees to make up the the carve outs and work arounds. Of course this will not prove to be popular and will likely get a lot of resistance. In fact this study determined the most numerous population segment of commuters are police (which likely won't be subject to the congestion fees).
"The tract will also surely be the epicenter of the fight over congestion pricing exemptions, since any exemptions given out to people driving and parking in this slice of lower Manhattan could eviscerate the entire program."
However this not the important point. The main problem is that this new revenue will not fill the hole. Even if it was $2.5 billion the MTA would find a way to say they are at shortfall once again.
TeamMisha t1_iv2ydy0 wrote
Read the Environmental Assessment. The toll scenarios studied are to reach the revenue required.
Rottimer t1_iv16kqr wrote
Well we have to hope it does make $1 Billion, because any shortfall has to come out city coffers.
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