I'm curious, in London did they cut the fares for subways when they implemented the tolls?
The one thing that has been bothering me about NYC congestion toll is I figured there was be a cut in the fares for subways and rail to entice more riders. But I don't see that mentioned; just for capital projects it seems.
My understanding is that OMNY's weekly fare cap[1] was created for exactly this reason (along with incentivizing people to switch from MetroCard to OMNY).
That being said, NYCT's fare ($2.90 without zones or times) is markedly cheaper than even the cheaper London Underground off-peak same-zone fare. I don't particularly want to pay more for the subway, but the fare also really hasn't kept up with inflation.
It's a long time ago, but I think the main benefit from the congestion charge money in London was improving the service. More buses, especially at night, which helped the poorest people (cleaners, security, etc).
I live in London they brought it in and it's been ok overall. It doesn't stop congestion but reduces it a bit. For commuters it's probably a bit better as they mostly use the train/bus etc and benefit from less traffic. For workmen needing to deliver and fix things it's a bit of a pain. For me living in the center I'd probably take the plus of less traffic over the minus of getting a plumber to visit being expensive.
Re the tax grab - yeah but they have to get tax money from somewhere to pay for services and the like.