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Rating upgrade from FTA clears way for $10 billion Hudson tunnel project

The U.S. Federal Transit Administration (FTA) upgraded the long-awaited, planned $10 billion Hudson Tunnels project’s rating to medium-high, thus making it eligible to receive federal funding. The project was given lower ratings during the Trump administration which clashed with the states of New York and New Jersey over the financial commitment of each entity. Under an understanding reached during the administration of former President Barack Obama, the states had agreed to split half the cost of the tunnel, using federal loans to be paid back over decades, with federal grants accounting for the other half. Under former President Donald Trump, the FTA said states weren’t allowed to use federal loans as part of their funding match to get the federal grants. That policy was rescinded by the...

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