New York City just introduced congestion pricing. Why some experts say it could work in Metro Vancouver [Video]

TransLink is facing a $600 million operating deficit by 2026, but transit experts say the shortfall could be offset by introducing congestion pricing in Metro Vancouver — an effort currently underway in New York City that’s showing some promising results.

Congestion pricing, or mobility pricing, is a policy aimed at reducing traffic and pollution by charging drivers to use the roads. On Jan. 5, New York City became the latest metropolitan hub to introduce a road pricing program by charging drivers up to $9 US to enter Manhattan south of Central Park during peak hours. The city intends to reinvest the dollars generated into transit infrastructure.

After the first week, total traffic in the tolling zone dropped by 7.5 per cent — or roughly 43,000 cars a day — compared to the equivalent period last year, officials for the Metropolitan Transportation Authority said.