It's finally arrived. NYC is copying London's Congestion Charge. The City Council voted 30 to 20 for a Home Rule resolution asking lawmakers to approve a Senate Bill empowering the city to impose the traffic plan. Congestion pricing, as the plan is called.

How does it work? The congestion charging zone would be in effect in Manhattan south of 60th Street between 6 am and 6 pm Monday-Friday. Cars will be charged $8 daily, trucks will be charged $21 daily ($7 if it's a low-emission vehicle) when entering the zone and there would be a $1 surcharge for vehicles without EZ-Pass readers. Weekends, evenings and early mornings remain free. Moreover, each taxi ride will be surcharged by $1 for trips that start and/or end in the designated zone. Motorcycles and scooters will have to pay $4. Big Apple drivers can also look forward to increased metered parking rates and residents won't be able exempt from the parking tax, although there will be a residential parking program. What do we get for the cost? The Council committed the estimated revenue of $491 million for transit improvements.

[Source: NYCDOT via Bloomberg]


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