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Economy

President Trump pulls brakes on $13B Obama-backed rail-tunnel plan

2017-12-31

[FOX] An Obama-era plan to have the federal government finance half of a $13 billion rail tunnel project ran into a red light Friday from the Trump administration.

The plan, proposed under President Barack Obama in 2015, includes revitalizing a deteriorating Amtrak tunnel connecting New Jersey to New York City, repairing damage to a dual-tunnel conduit, and reconstructing the New Jersey railroad network’s aging Portal Bridge, Crain’s New York Business reported.

Amtrak, which owns most of the rail tunnels and tracks between Boston and Washington, D.C., contends that the existing tunnel connecting New Jersey and New York City is damaged and could fail within 10 to 15 years, threatening daily rail transportation in the Northeast.

The original Obama-era plan called for costs to be split among New York state, New Jersey and the federal government.

Posted by:Besoeker

#5 Obama's idea of joint financing was the feds should give half the money, and lend the other half to the states.

Posted by: Zhang Fei 2017-12-31 19:45

#4 Close the tunnel. Install a trebuchet.

Posted by: ed in texas 2017-12-31 10:57

#3 Money better spent on a wall.

Wait, are we talking about walling off the New Jersey/New York corridor or our southern border?

Posted by: SteveS 2017-12-31 10:46

#2 Money better spent on a wall.

Posted by: Besoeker 2017-12-31 08:05

#1 ...Interestingly, the reports I've seen on this clearly state - though not till almost the bottom of the page - that the Administration isn't arguing over the importance of the project, just how the cost should be split up.

To which I say, good for the Administration.

Mike

Posted by: Mike Kozlowski 2017-12-31 07:49

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