17 Years, $700 Million Wasted: The Stunning Collapse of New York’s Traffic Moonshot
1st July 2024
In one of the most consequential decisions in decades for America’s most prominent city, Hochul soon said she was indefinitely pausing congestion pricing—less than a month before it was set to take effect on Sunday, June 30.
The abrupt reversal, which some attribute to Hochul’s reluctance to impose a new fee in an election year, leaves metro New York grappling with a historic missed opportunity and fiscal mess. There is no relief in sight for the city’s traffic congestion, which is the worst in the world, according to data published last week.
The epic collapse in New York shows how a fear of dramatic change can give the status quo stubborn power over those trying to solve some of America’s most intractable challenges. That leaves policymakers nibbling at the edges of deeply rooted problems, even after investing huge sums of money and political capital.