Tags: white house | new jersey | new york | tunnel | funding | unserious

Trump Admin. Says NY-NJ Tunnel Funding Proposal 'Unserious'

Image: Trump Admin. Says NY-NJ Tunnel Funding Proposal 'Unserious'
A train moves through Penn Station in New York, May 25, 2017. (Photo by Seth Wenig/AP, File)

By    |   Monday, 18 December 2017 08:56 AM

A Trump administration official does not believe that a proposal between New York and New Jersey's governors for funding of a tunnel project is a viable deal, The Washington Free Beacon is reporting. 

New York Gov. Andrew Cuomo, a Democrat, and New Jersey Gov. Chris Christie, a Republican, announced Thursday that they were committed to funding their states' half of the Hudson River Tunnel Project, while the federal government would fund the other half.

"New York and New Jersey's submission on file proposes the federal government pay 85 percent of the project costs, for a tunnel where 9 out of 10 passengers are local transit riders. This is entirely unserious," the Trump administration official said, The Free Beacon noted.

Details in the statement said the states' funding would be in the form of the Department of Transportation's Railroad Rehabilitation and Improvement Financing loan program, and neither state has applied, the official added.

The official told the Free Beacon that New York and New Jersey would need to provide "significant funding" and were billions of dollars away from making a deal.

To pay for the deal, New Jersey would add a fee for transit passengers, while New York would use a $1.75 fixed-interest loan, the website noted.

The tunnel project would include a new two-track tunnel and the rehabilitation of the existing Amtrak North River Tunnel, according to the governors' joint statement.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
US
A Trump administration official does not believe that a proposal between New York and New Jersey's governors for funding of a tunnel project is a viable deal, The Washington Free Beacon is reporting.
white house, new jersey, new york, tunnel, funding, unserious
231
2017-56-18
Monday, 18 December 2017 08:56 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved