Alon Levy on How to Spend NYC Congestion Pricing

Thus, congestion pricing is best viewed as a way to make it somewhat easier for the MTA to conduct a modernization program, providing a modicum of extra revenue and extra ridership diverted from cars to fund it. On the capital side, this means the agency must continue to find cost savings through more efficient designs and spend the money on visible improvements, including new lines, faster service and station accessibility. On the operations side, improvements can use the expected speed boost from reduced congestion to build up a bus modernization program; the most pressing improvements do not require more spending, but do require managers to be more willing to expand service and let higher ridership pay for it.