Is congestion pricing a good idea? We are about to find out.

Last November I posted a video on New York City’s plan to implement congestion pricing. After more than a half-century of efforts, and despite continuing opposition from New Jersey, the Federal Highway Administration signed off.

On average, 700,000 cars and trucks enter Lower Manhattan each day. With the worst congestion in the U.S. the average speed of those vehicles is 7.1 miles per hour. That’s about a third of the speed of Usain Bolt world record 100 meter race.

The plan is to charge a toll of between $9 and $23 on vehicles traveling below 60^th street during peak hours.

The goal is to implement the program by next spring and cut vehicle traffic by 10% and the miles driven by 5%.

Now the hard part begins – the devilish details. If successful it will serve as a model.

Congestion pricing has been implemented internationally but New York will be the first city in the United state to implement it. Similar programs have been implemented in London, Stockholm and Singapore. The question is: did they deliver the expected results?

All three cities have reported benefits including reduced carbon dioxide pollution, higher average speeds, and reduced congestion.

Just one year after London’s program launched in 2003, congestion dropped 30%, and average speeds increased by the same amount. In Stockholm, one study found that the rate of children’s acute asthma visits to the doctor fell by about 50% compared to rates before the program went into operation in 2007.

Nonetheless, some remain steadfast against New York City’s plan. Taxi and ride share services fear a significant reduction in demand. New Jersey officials including senate and congressional representatives vow to continue to fight it. They view the plan as unfair to people who commute to the city from New Jersey. Others believe the program could hurt low-income areas like the Bronx as traffic (and more pollution) is diverted.

I don’t believe any of these arguments are significant enough to warrant halting the plan. New York is not alone in having a major traffic problem. Boston, Los Angeles and most major populations centers have become undriveable, and something needs to be done.

Hopefully New York will get the details right and alleviate the concerns of those who object.

Stay tuned.