Last Friday, authorities approved a proposal that would double bridge and tunnel toll costs for New York and New Jersey ports, causing many trucking companies to become irate.
According to the NY Post, 5-axle trucks paying with cash will be charged $65 instead of $40, with this number hitting $105 in a 5-year time frame. As truckinginfo.com explains, these trucks will owe $3 per axle, paying “a total of $40 during peak hours, $35 during off-peak hours and $27.50 during overnight hours on weekdays.”
Those trucks employing an E-Z pass will have a small cost break, paying $2 per axle, with that number increasing by $2 every December from 2012 to 2015, equaling a grand total of $50 for a five-axle truck, the site states.
With port authorities unable to receive tax revenue, and with costs due to the recession, authorities will use the money from the tolls for aiding projects including, “George Washington Bridge suspender ropes, Lincoln Tunnel Helix rehabilitation, Bayonne Bridge roadway raising, New Goethals Bridge with both Port Authority and private investment, PATH Car, signal, and station modernizations, airport runway and taxiway modernizations, security enhancements at all facilities, port infrastructure improvements to rail and roads in the port, and completion of the World Trade Center,” which is said to be a great expense, so much as preventing PA from repairing its own roads (http://www.truckinginfo.com/news/news-detail.asp?news_id=74487). Authorities predict $15 billion to go towards theses projects by 2015.
New York is already known to have the highest tolls in the state and with 90% of NYC inbound freight relying on trucks as its means of transport, the price of goods and service is expected to get costly.
Higher tolls result in higher rates from trucking companies, who are already charging delivery fees as a result of the tolls. Shippers, in return, will up the prices of their products to account for higher transportation costs, affecting consumers.
Not all trucking companies will be able to compete with the higher tolls however, causing some of them to go out of business or cut back on their service areas, leading to tighter capacity issues.
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What do think of the Port Authorities decision to double tolls in order to support projects such as the World Trade Center? List your comments below!