Historic $16 Billion Plan Signed Into Effect for Hudson Tunnel Project

The Gateway Development Commission finalized funding agreements for the Hudson Tunnel Project on Monday. The $16 billion budget includes a historic $12 billion in federal funding, the largest such monetary commitment for any rail transportation project in modern history. The project will create a new two-track rail tunnel between New Jersey and Manhattan in addition to renovating the existing tunnel under the Hudson River. Officials say the project will improve the commuter experience, create new jobs, and generate economic growth.