The federal government has agreed to kick in a whopping $6.88 billion to fund the long-awaited Gateway project that would add a third tunnel under the Hudson River to ease freight and passenger train congestion between New York and New Jersey, the office of Sen. Chuck Schumer (D, NY) said Thursday.
The senator said that the massive federal grant could kickstart construction on the tunnel sometime this year.
The tunnel is expected to create 72,000 jobs, Schumer said.
The Hudson River tunnel—part of the larger Gateway project which would refurbish the existing century-old rail tunnels between Newark and Penn Station and build two new ones — is expected to cost $16.1 billion.
It’s the largest single piece of the overall Gateway project.
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