mta budget approved -- it includes bond $$$ based on congestion tolling below 60th street:
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MTA to Sell $25 Billion of Congestion-Fee Bonds in Record Budget
By Henry Goldman
September 25, 2019, 3:14 PM EDT
City congestion pricing would pay bulk of $52 billion budget
Billions could help fix regional transit crisis, officials say
New York’s Metropolitan Transportation Authority board unanimously approved its largest five-year capital spending plan ever Wednesday, with almost half of it financed through congestion pricing fees on motorists entering midtown Manhattan.
The $51.5 billion spending plan for 2020 through 2024 is 70% larger than the current capital budget and relies on $25 billion of municipal bonds that will be financed by charging congestion pricing fees to enter Manhattan’s central business core. When the state legislature and Governor Andrew Cuomo enacted the law in June, they expected $1 billion a year in revenue from such fees to pay debt service on about $15 billion of borrowing. The additional $10 billion of debt will need to be paid for with higher fees, lower interest rates, or both.
more:
https://www.bloomberg.com/news/artic...-record-budget