The project to build a new rail tunnel beneath the Hudson River and rehab an existing one will cost $16 billion and not be complete until 2038.
The cost of a project to repair a crumbling century-old rail tunnel beneath the Hudson River — and build a new tunnel for Amtrak and NJ Transit trains — has ballooned to $16 billion following years of delays.
Despite the increased costs and extended timeline, the governors of New York and New Jersey reiterated their willingness to cover a quarter of the costs each. The federal government has pledged to pay for the other half. Refurbishing the existing 112-year-old tunnel, which was damaged by Hurricane Sandy, is expected to cost $2 billion.
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