New York became the first U.S. city to launch a congestion charge zone, following years of delays and legal challenges, Oliver Barnes of The Financial Times reports. Motorists entering some of Manhattan’s busiest neighborhoods during peak hours will face a $9 congestion charge fee. The scheme is expected to cut the number of vehicles entering the zone each day by about 10% and will also help raise $15B for New York’s Metropolitan Transportation Authority. Companies likely to be impacted by the move include Lyft (LYFT) and Uber (UBER).
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