On Monday, the vital financing for the $16 billion Gateway tunnel project, which is considered the most significant infrastructure undertaking in U.S. history, was formally announced in New York.
The federal government has approved a grant of $6.8 billion for the proposal to construct two new tunnels under the Hudson River and enhance the current tunnels.
According to Kris Kolluri, the CEO of Gateway Development Commission, the commencement of the excavation of the new tunnels could take place before the conclusion of 2024, with the aim of completing the project by 2035.
“The light at the end of the Gateway Tunnel”
Governors Kathy Hochul and Phil Murphy, along with Senate Majority Leader Chuck Schumer, Senator Cory Booker, and Representative Jerry Nadler, were among the attendees at the announcement in New York and New Jersey. Both states are celebrating this win.
Schumer joyfully announced that the Gateway Tunnel’s long-awaited light is finally visible as the massive $6.8 billion federal funds infusion has been successfully signed, sealed, and delivered.
According to Booker, this is a remarkable American initiative. He emphasized that this particular area in New York and New Jersey is one of the most economically prosperous regions in the entire world. Booker added that investing in this region is highly beneficial and yields significant returns.
Hochul criticized for supporting Gateway but pausing congestion pricing
The Governor of New York received criticism from Danny Pearlstein, the Policy and Communications Director for the Riders Alliance, for his support of the Gateway Project while neglecting to implement congestion pricing.
According to Pearlstein, Governor Hochul’s decision to back out of congestion pricing is proving to be a costly mistake. The Gateway project, which had previously been blocked by former New Jersey Governor Chris Christie, will now cost double the amount of the previous tunnel plan. Additionally, the governor’s change of heart on the project has resulted in New York losing out on a major federal investment grant that would have funded the construction of the Second Avenue subway to East Harlem. While the governor has been focusing on winning over suburban voters, she has neglected the millions of city bus and subway riders who rely on dependable and accessible public transportation. “The governor’s actions have left these riders stranded and without the support they need,” Pearlstein stated.
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