News

Funding pact reached for new rail tunnel under Hudson River

Posted: Updated:
NEWARK -

New York and New Jersey have agreed on how to pay their share of an estimated $13 billion project to build a new rail tunnel under the Hudson River.

New Jersey plans to raise $1.9 billion by hiking rail fares by about 90 cents per trip starting in 2020, with bigger increases planned for 2028 and 2038.

New York plans to commit $1.75 billion to be financed over 35 years through a federal rail loan program.

The rail tunnel will ultimately improve train service through Connecticut.

President Barack Obama committed to pay half of the project's cost, but his successor, President Donald Trump, hasn't said whether that commitment stands.

The project is seen as essential to alleviating delays on the Boston-to-Washington corridor.

Amtrak says the existing tunnel could fail in 10 to 15 years due to damage from Superstorm Sandy.

AP wire services helped contribute to this report.

  • Connecticut Top StoriesTop StoriesMore>>

  • Make Music Connecticut kicks-off first day of summer

    Make Music Connecticut kicks-off first day of summer

    Thursday, June 21 2018 5:58 AM EDT2018-06-21 09:58:14 GMT

    The 1st annual Make Music Connecticut event will take place Thursday to kick off the first day of summer. 

    The 1st annual Make Music Connecticut event will take place Thursday to kick off the first day of summer. 

  • Forecast: Cloudy and wet, temperatures in high-70s

    Forecast: Cloudy and wet, temperatures in high-70s

    News 12 Connecticut Weather ForecastNews 12 Connecticut Weather Forecast

    Here's the latest News 12 Connecticut weather update.

    Here's the latest News 12 Connecticut weather update.

  • On the Spot Trivia: Weird Animal Facts

    On the Spot Trivia: Weird Animal Facts

    Thursday, June 21 2018 5:06 AM EDT2018-06-21 09:06:13 GMT
    Do you consider yourself an animal lover? News 12's Lily Stolzberg put shoppers to the test with a little animal trivia.Do you consider yourself an animal lover? News 12's Lily Stolzberg put shoppers to the test with a little animal trivia.

    Do you consider yourself an animal lover? News 12's Lily Stolzberg put shoppers to the test with a little animal trivia.

    Do you consider yourself an animal lover? News 12's Lily Stolzberg put shoppers to the test with a little animal trivia.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."