Apr 24, 2019

New York City is set to become the first big city in the country to put in place a charge on vehicles entering its most congested streets, and it took a booming economy, grinding traffic and a subway crisis to seal the deal. According to Paul Berger writing for the Wall Street Journal, drivers will soon pay a fee to enter Manhattan’s midtown and downtown areas, with the expectation it will reduce gridlock while raising billions of dollars needed to restore the city’s struggling mass transit system.  The model for the city is London-- where the success of what they are calling “Congestion Pricing” over the past 16 years has allowed London city officials to expand sidewalks and pedestrian areas, add bike lanes and reconfigure roadways to make them more bicycle and pedestrian friendly. They have speeded up buses by nearly 30%. We'll review the Journal's report with MIT's insights on how driverless cars may make traffic congestion worse, NOT BETTER!  You don't want to miss today's show. MASTERING MONEY is on the air!