New York City data suggest gains from toll zones are marginal

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According to the highest authorities, New York City’s US$9-a-day traffic congestion tax (oops, sorry, congestion price) on vehicles entering Lower Manhattan has proved to be a major success. A Bloomberg News story last week reflected headlines around the U.S. media trumpeting the first official assessment of the impact of the city’s congestion tax since it was imposed in January 2025.

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The Bloomberg headline claimed “New York’s congestion price is working.” The story was instantly cited by Nobel Economist Paul Krugman, one of the leading economic proponents of using a tax to control traffic. In a Substack posting Krugman linked to Bloomberg and said the tax has been “a striking success. Traffic speeds have increased. Pollution is down. The fee is generating a large amount of revenue for the city’s transit system.”

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Whether Krugman or anybody else actually........

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