The Biden Administration on Monday signed a $16 billion full funding agreement with New York and New Jersey that will finally get the Gateway Tunnel project, which will build two new train tubes under the Hudson River, underway.
The agreement brings an additional $6.88 billion of federal money to the project, bringing the federal contribution to $12 billion to supplement $4 billion in loans to the Empire and Garden states. That means work can begin in earnest on one of the largest and most expensive infrastructure projects in American history, which President Joe Biden has called one of the nation’s most important.
