The early revenue numbers are in for congestion pricing, and while the gross is about $3 million less than what was projected, the MTA says the expenses related to the toll were also lower, so the net is actually higher.

The tolls brought in $48 million from Jan. 5 through the end of the month — 27 days. Expenses, which included the money to operate the tolls, as well as the $2 million for environmental mitigation, totaled $11 million. That's roughly $5 million less in expenses than projected. The gross revenue was $37.5 million.

“I just want to remind folks the spring, the summer, some of the fall are higher traffic months,” MTA co-chief financial officer Jai Patel said. “So we believe we are on track for the $500 million in net revenue, based on, you know, early January results.” 

That $500 million a year will allow the MTA to eventually sell $15 billion in bonds to finance the remaining projects from the 2020-2024 capital plan.

And at the MTA committee meetings Monday, there was no discussion about any contingency in the face of President Donald Trump ordering the program be shut down, especially with some short-term debt already sold.

“We’ve issued $900 million in debt for the system infrastructure costs, and to start initial capital projects,” Patel said. 

Those projects include the extension of the Second Avenue Subway to 125th Street, signal modernization, and building elevators at dozens of stations. While congestion pricing reduced the number of vehicles entering the congestion relief zone by 7.5% in January, the majority were still private vehicles. 

Sixty-eight percent of the tolls came from passenger vehicles; 22% from taxis and for-hire vehicles, or FHVs; 9% from trucks; and 1% from buses and motorcycles.

Ninety-five percent of the revenue came in during peak hours. And it comes as paid ridership is up, but not necessarily because of the toll.

“A couple of different factors are contributing to that,” Patel said. “Just the natural increase in the 2024 shift that we saw towards the end of the year. But also, on our fare evasion initiatives, specifically on the buses and subways.”

All this good news wasn’t even part of Gov. Kathy Hochul’s presentation Friday in a one-on-one meeting with Trump to convince him of the positive impact of congestion pricing. 

The MTA, meanwhile, seems to be operating as if the toll will continue, despite this latest threat from the president to end it.