If you want better public transport in NYC, this charge will pay for it. For all the crap TfL get, the money raised by the congestion charge has saved the Underground.
Not really. The Underground upgrades cost far more than the C-charge brings in, and the financing/procurement was a complete clusterfuck. TfL wanted to fund it with public bonds (which is a common method in the US - Ken Livingstone got
Bob Kiley, ex MTA exec to lobby for the idea). But Gordon Brown at the treasury overruled him and forced PPP (public-private partenership) instead. Two private firms were assembled to do the work and then set about wasting money, bungling the job and wallowing in a pool of pointless bureaucracy. Both companies ended up in administration and had to be bought out by TfL to finish the job. Over half a billion £ wasted by some estimates.
The underground was saved by massive public investment (£10billions), with considerable disruption to the network. NYC will need the same if it wants to see the same sort of improvement.
You can see TfL's current budget to get an idea of the figures:
http://content.tfl.gov.uk/board-160317-item07-budget-2016-17.pdf
The C-charge is buried in "Other"
Their operating cost is £6.4bn, repairs/renewals £1bn and their capital investment £2.4bn (more than half of which is for Crossrail)
NYC needs to find a similar £2bn figure to do what TfL has done/is doing. The C-charge will help, but it's not a panacea