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Then take a bus/train/PATH. Simple way to avoid the congestion pricing is just don't drive in Manhattan. The entire purpose of this congestion pricing is to discourage driving and financially support MTA. If it discourages people from driving into Manhattan, then it's doing it's job lol
Again, no it's not.
Law as written specifically states intent is to raise funds for that bottomless pit aka; the MTA.
"Except, that’s not what this policy is about. In fact, the law is explicitly clear on this one point: It has to raise enough revenue for the MTA to be able to borrow at least $15 billion off the proceeds. "
It is as one stated previously; Albany is seeking to tax, toll or whatever drivers into Manhattan to raise revenue that can then be used to float bonds.
Rates those bonds will pay are directly linked to what buyers believe future revenue streams (in this case congestion pricing) are going to produce.
NYS constitution specifically forbids the state from issuing debt beyond a certain amount (forget exact number), without going to the voters by holding a referendum. IIRC it was Robert Moses who pushed for creation of Triboro public authority and it has been off to the races ever since.
The MTA, Triboro and other NYS public authorities *can* issue debt without going to the voters. In fact as things stand the MTA alone is so strapped with debt: https://ny.curbed.com/2018/10/11/179...homas-dinapoli
This is where congestion pricing comes into the picture. Instead of issuing yet more bonds, the MTA is going to get funding from this scheme to put into a separate pot.
Law as written specifically states intent is to raise funds for that bottomless pit aka; the MTA.
"Except, that’s not what this policy is about. In fact, the law is explicitly clear on this one point: It has to raise enough revenue for the MTA to be able to borrow at least $15 billion off the proceeds. "
It is as one stated previously; Albany is seeking to tax, toll or whatever drivers into Manhattan to raise revenue that can then be used to float bonds.
Rates those bonds will pay are directly linked to what buyers believe future revenue streams (in this case congestion pricing) are going to produce.
NYS constitution specifically forbids the state from issuing debt beyond a certain amount (forget exact number), without going to the voters by holding a referendum. IIRC it was Robert Moses who pushed for creation of Triboro public authority and it has been off to the races ever since.
The MTA, Triboro and other NYS public authorities *can* issue debt without going to the voters. In fact as things stand the MTA alone is so strapped with debt: https://ny.curbed.com/2018/10/11/179...homas-dinapoli
This is where congestion pricing comes into the picture. Instead of issuing yet more bonds, the MTA is going to get funding from this scheme to put into a separate pot.
This is an excellent post and on point. Most of NYS borrowing is done by authorities to avoid voter referendums. These 2 quotes are from the NYS Comptrollers Office
https://www.osc.state.ny.us/pubauth/
"Public authorities are corporate instruments of the State created by the Legislature to further public interests. These entities develop, operate and maintain some of New York 's most critical infrastructure including roads, bridges and schools. As a result, public authorities play a significant role in the debt structure of New York State. Currently, over 94 percent of all State-funded debt outstanding was issued by public authorities without voter approval."
"Since the creation in 1921 of New York’s first public authority – the entity now known as the Port Authority of New York and New Jersey – more than 1,000 authorities and subsidiaries have been created at the State and local levels. As of September 2016, there were 324 State-level authorities and subsidiaries and 860 local authorities across New York, and eight established by virtue of interstate or international agreements."
Law as written specifically states intent is to raise funds for that bottomless pit aka; the MTA.
"Except, that’s not what this policy is about. In fact, the law is explicitly clear on this one point: It has to raise enough revenue for the MTA to be able to borrow at least $15 billion off the proceeds. "
It is as one stated previously; Albany is seeking to tax, toll or whatever drivers into Manhattan to raise revenue that can then be used to float bonds.
Rates those bonds will pay are directly linked to what buyers believe future revenue streams (in this case congestion pricing) are going to produce.
NYS constitution specifically forbids the state from issuing debt beyond a certain amount (forget exact number), without going to the voters by holding a referendum. IIRC it was Robert Moses who pushed for creation of Triboro public authority and it has been off to the races ever since.
The MTA, Triboro and other NYS public authorities *can* issue debt without going to the voters. In fact as things stand the MTA alone is so strapped with debt: https://ny.curbed.com/2018/10/11/179...homas-dinapoli
This is where congestion pricing comes into the picture. Instead of issuing yet more bonds, the MTA is going to get funding from this scheme to put into a separate pot.
But the core problem still has to be addressed: The MTA's NYCT transit system is ancient and desperately in need of upgrades and construction to keep it in a state of good repair and do capital construction. THERE'S NO MONEY FOR IT. Fares don't cover, c'mon. Where is the money supposed to come from?
I go to these public authority events all the time. I work in the NYC engineering industry, which is a surprising small world. There is major work that needs to be done in NYC, especially as regards transportation and infrastructure, and the costs are enormous. Contrary to what people want so desperately to believe, major contracts are not handed out to friends of politicians. It's not 1965 anymore. Procurement policies and controls have long been in place to prevent that. While abuses still happen here and there, it's the exception rather than the rule and always something on a small scale. In no public agency in New York can some political hack make a phone call and say, "Hand out that $500 million construction contract to my friend Joe". It just does not work that way.
Yeah, people will start dancing around about unions and this and that, and with some merit, but even so, there is work that needs to be done at huge prices, and the money just isn't there to do everything that needs doing.
All the other fees, taxes, fares, and tolls they already have. Petroleum taxes, sales tax, mortgage and real estate taxes, a payroll tax, auto registration fees, taxi surchages, etc. And the cell phone tax, never forget that one.
Quote:
Yeah, people will start dancing around about unions and this and that, and with some merit, but even so, there is work that needs to be done at huge prices, and the money just isn't there to do everything that needs doing.
What's going to happen is they're going to get the money, everyone involved will smell it, the cost of existing projects will go up enough to more than make up for the new money, and the subways will be as bad as ever.
All the other fees, taxes, fares, and tolls they already have. Petroleum taxes, sales tax, mortgage and real estate taxes, a payroll tax, auto registration fees, taxi surchages, etc. And the cell phone tax, never forget that one.
What's going to happen is they're going to get the money, everyone involved will smell it, the cost of existing projects will go up enough to more than make up for the new money, and the subways will be as bad as ever.
I travel a lot, so my favorite are the taxes on hotel rooms. The price is never what the price is. It's always $12 - $15 higher.
But the core problem still has to be addressed: The MTA's NYCT transit system is ancient and desperately in need of upgrades and construction to keep it in a state of good repair and do capital construction. THERE'S NO MONEY FOR IT. Fares don't cover, c'mon. Where is the money supposed to come from?
I go to these public authority events all the time. I work in the NYC engineering industry, which is a surprising small world. There is major work that needs to be done in NYC, especially as regards transportation and infrastructure, and the costs are enormous. Contrary to what people want so desperately to believe, major contracts are not handed out to friends of politicians. It's not 1965 anymore. Procurement policies and controls have long been in place to prevent that. While abuses still happen here and there, it's the exception rather than the rule and always something on a small scale. In no public agency in New York can some political hack make a phone call and say, "Hand out that $500 million construction contract to my friend Joe". It just does not work that way.
Yeah, people will start dancing around about unions and this and that, and with some merit, but even so, there is work that needs to be done at huge prices, and the money just isn't there to do everything that needs doing.
there is a ton of money there. its just that there are tons of people either getting the money or benefiting from the money that always want more more more. no matter how much money the government collects, there will never be enough to cover everyone's wishes. politicians dont really benefit from cuts and it doesnt seem to me like they do anything unless someone is asking them to do something. so they pretend like the money isnt there and they come up with new taxes. its not really true and not totally false either.
every now and then i get a glimpse of how politics works and there were issues in the most recent NY budget important to me. its really very corrupt and irrational how the government works. well, its rational if you understand how to game works but not rational from the notion of working efficiently.
i know it isnt a state issue necessarily but i think about how much money is spent on the military and it annoys me that people pretend that there isnt money for stuff like health care or various assistance programs. i dont really support those things but how do you support such evil and giant spending and pretend there isnt money for helping people?
i know it isnt a state issue necessarily but i think about how much money is spent on the military and it annoys me that people pretend that there isnt money for stuff like health care or various assistance programs. i dont really support those things but how do you support such evil and giant spending and pretend there isnt money for helping people?
Yes, there is plenty of money wasted in military spending, in tax cuts for corporations and the rich. Thus US federal Government is unable and unwilling to help the states maintain and expand critical infrastructure so that it is able to cope with population growth and technological changes.
Congestion pricing is a wonderful idea that will help raise revenue but also will discourage driving. The less cars on the roads there are, the less pollution is generated and more people use and pay for public transportation. But if they continue driving, they pay higher tolls. So this ends up being a win/win situation even if people abandon driving.
I have zero sympathy for NJ residents who insist on driving to Manhattan. They should car pool, take mass transit or be prepared to pay more. I am not sure how prevalent driving to Manhattan is. Among the people who I know, about 20% drive to Manhattan, either a few times a week or every day. Most do this because they are lazy, out of shape and don't like to walk. I suspect that they will do less driving when this law goes into effect...
A car is a car and takes up the same amount of road space whether it is driven by a wealthy person or a poor person.
But of course, you know the progressive Leftists NYS and NYC pols couldn't help make this too a part of their overall class warfare crusade.
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