NJ agrees to payment plan for its share of the Hudson River Rail Tunnel
New Jersey officials have agreed to a payment plan to pay for the state’s share of the Hudson River Rail Tunnel Project.
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Dec 20, 2022, 11:44 PM
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Updated 814 days ago
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8h agoNew Jersey officials have agreed to a payment plan to pay for the state’s share of the Hudson River Rail Tunnel Project.
The state will make yearly loan payments of $124 million starting in 2033. This will pay for 25% of the cost to build two new rail tunnels under the Hudson river.
RELATED: Project that would build 2 tunnels connecting New Jersey to Penn Station hits a milestone moment
New York is also paying 25% of the bill. The federal government will take care of the rest.
The project is expected to cost $16 billion to complete.
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