Free Public Transit: Shift to mass transit could save more than $100 trillion

Tuesday, October 14, 2014

Shift to mass transit could save more than $100 trillion

ScienceBlog.com: "More than $100 trillion in public and private spending could be saved between now and 2050 if the world expands public transportation, walking and cycling in cities, according to a new report released by the University of California, Davis, and the Institute for Transportation and Development Policy. Additionally, reductions in carbon dioxide emissions reaching 1,700 megatons per year in 2050 could be achieved if this shift occurs."

Free is Cheaper

How is free transit cheaper? Don't you have to make up for lost fare revenue? The answer is that your city will save so much money in other areas, and quality of life will improve so much that you will get back much more than the lost fares. Some examples are listed below. If you want to see specific numbers, see our spreadsheet here.

Increased return on investment. Public transit involves large fixed costs. When fares are gone, there are more riders per vehicle, getting more value from the investment.
Reduced parking costs. With free transit, fewer people will park downtown. City parking authorities can cost $180 million a year, paid by fines, which are just a tax on customers and delivery services.

Reduced traffic congestion. Studies have shown that the time lost in traffic costs urban economies hundreds of millions of dollars.
Less money exported for gasoline. A medium sized city can export 1 million dollars a day in gasoline money for cars. Free buses will reduce this considerably.
Better quality of life, priceless. In Hasselt, Belgium, when fares were removed, people in hospital started receiving more visitors.