Bridge, tunnel toll hike likely in NY, NJ
NEW YORK (PIX11) --- Tolls at bridges and tunnels run by the Port Authority of New York and New Jersey are set to increase as part of the proposed budget for 2021.
Prices for bridges and tunnels that go between New York and New Jersey would go up by $1 while AirTrain prices would rise by 25 cents. The hikes, described as "automatic inflation-based adjustments," would go into effect on Jan. 8, 2023.
"This budget continues our efforts to recover from the financial damage done by the pandemic when the volumes handled by Port Authority facilities were decimated,” Port Authority Executive Director Rick Cotton said. “Our proposed 2023 budget will provide funding for the highest spending on our security and cybersecurity agenda in the agency’s history and will also support capital spending to advance our $2 billion restoration at the George Washington Bridge, our Bus Terminal replacement project, our airport redevelopment projects, our PATH improvement and new fare payment system initiatives, and our seaport dredging and other initiatives.”
The Port Authority lost around $3 billion in revenue during the pandemic. The Consumer Price Index increase from September of 2020 through September of 2022 also totaled 14 percent.
The last toll hike went into effect at the start of 2020. It was the first in five years. It was tied to inflation