New York MTA OKs bridge and tunnel toll increases

NEW YORK (BestGrowthStock) – New York’s Metropolitan Transportation Authority on Wednesday approved a toll increase for its bridge and tunnel crossings to generate an extra $107 million a year for the cash-strapped agency.

As of December 30, bridge and tunnel users paying in cash will see a $1 toll increase, to $6.50, at most major crossings, and a $2 increase, to $13, on the Verrazano-Narrows Bridge, which connects the boroughs of Brooklyn and Staten Island. Tolls at minor crossings will go up 50 cents, to $3.25, the MTA said.

Electronic E-ZPass tolls — which cost significantly less to collect — will go up 5 percent, with drivers paying $4.80 at major crossings, $9.60 on the Verrazano, and $1.80 at minor crossings, the authority said.

“This proposal significantly increases the differential between E-ZPass and the cash tolls to encourage E-ZPass use while also raising revenue from all” bridge and tunnel users, MTA Chairman Jay Walder said in a letter to the board.

Earlier this month, the authority raised mass transit fares. From December 30, a monthly unlimited ride pass will cost $104, up from $89. The base single-ride fare stays at $2.25.

(Reporting by Edith Honan; Editing by James Dalgleish)

New York MTA OKs bridge and tunnel toll increases