Here's how New York City is planning to spend $15 billion raised from a new congestion pricing toll

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The final toll price has not been determined. The final price of the toll has not yet been determined. Passenger vehicles are subject to a daily tax. The toll for commercial and ride-share vehicles is per trip. If you have no other option but to drive, this is not a good result. “

The MTA’s aging system could receive up to $15 billion in investment. The MTA will use a large portion of the money to fund its Capital Program 2020-24. For example, some of the proceeds will finance four new Metro-North stations for communities in the Bronx.

“Expansion tends to be the sexy and fun thing, which we’ve done. But the kind of stuff that our customers don’t see is power upgrades, track upgrades and signal upgrades,” said Richard Davey, President of New York City’s Transit Authority.

The MTA is also speeding up investment in clean bus technology. The MTA expects to start experimenting with hydrogen-fuel cell bus technology by 2025. That’s a nascent technology,” said Davey to CNBC.

Regional planners expect to see environmental benefits with the new toll in place. Particulate matter from stop-and go traffic can cause diseases like asthma. Julie Tighe of the New York League of Conservation Voters said that particulate pollution in London has been reduced by nearly 20%. Stockholm has seen a reduction of 15% in particulate pollution, resulting in a 50% drop in asthma. “

In Stockholm, the proposal was not popular,” said Mollie D’Agostino a researcher from the University of California Davis campus. It barely got enough votes to pass the first trial period. It got a lot more support during the second vote…people liked it. “

Watch the

video

above to see how New York City is spending cash raised by its massive new toll.