Summary:
The Gateway Development Commission received a $3.8 billion federal funding boost for its $16 billion rail tunnel project.
This funding will allow the project to move forward with tunnel boring expected to begin this year.
The project aims to alleviate congestion underneath the Hudson River and improve aging infrastructure.
The new tunnel is expected to be operational by 2035 and the existing tunnel fully rehabilitated by 2038.
The project is expected to create thousands of jobs and boost the regional economy.
NYC's Long-Awaited Rail Tunnel Project Gets $3.8 Billion Boost
The Gateway Development Commission has just received a major funding boost for its ambitious $16 billion rail tunnel project connecting New York City and New Jersey. The Federal Railroad Administration has provided the final $3.8 billion in federal funding, marking a major victory for the project that has faced years of delays and political obstacles.
This funding will allow the project to finally move forward with tunnel boring expected to begin this year. The project aims to alleviate congestion underneath the Hudson River by creating a new tunnel and upgrading the existing, more than 100-year-old tunnel. The new tunnel is expected to be operational by 2035, with the existing tunnel fully rehabilitated by 2038.
The project, which was stalled under the Trump administration, has been a priority for President Biden. The Gateway Development Commission, which oversees the project, now has $2.7 billion in grant funds immediately available for construction.
This is a major win for the region, which relies on the aging rail infrastructure for both passenger and freight transportation. The new tunnel is expected to create thousands of jobs and boost the regional economy.
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