news
- New York State Gov. Kathy Hochul suspended the congestion pricing plan in NYC just weeks before it was set to start.
- This decision is seen as a generational setback for climate policy in the U.S. and has been criticized for being anti-environmental.
- The decision puts transit system funding at risk, exacerbates existing challenges, and sets back the development of climate-friendly cities.
Key quotes:
- North America’s biggest transit system is out $1 billion per year after New York State Gov. Kathy Hochul suspended New York City’s congestion pricing plan just weeks before it was due to take effect, in what the New York Times calls a “stunning 11th-hour shift”.
- Bloomberg News says the decision will have MTA riders, who make more than two billion trips on the system per year, bracing for subway “hell”, as the lost toll revenue puts badly-needed repairs at risk by deepening a $51.5-billion hole in the transit agency’s multi-year capital plan. MTA was already hunting for $25 billion in new state and city revenue between 2025 and 2029, the news agency says.
Read the full post at The Energy Mix.
