A multi-billion dollar tunnel project in New York has suffered significant financial losses due to months of withheld federal funding under the Trump administration. The Gateway Development Corporation says only partial construction will resume despite recent release of over $200 million in federal funds.
WASHINGTON – Project managers overseeing a massive $16 billion tunnel construction initiative connecting New York and New Jersey report that prolonged delays in federal funding approval have resulted in substantial financial setbacks totaling millions of dollars.
According to the Gateway Development Corporation, the Trump administration held back crucial funding for the Hudson Tunnel Project beginning October 1st, creating a financial standstill that lasted several months. While federal officials recently approved the release of $235.7 million in previously frozen funds, project leaders indicate the damage has already been done.
The corporation revealed in court documents filed Monday that an additional $19 million remains outstanding for the infrastructure project. Due to ongoing uncertainty about whether the U.S. Transportation Department will continue providing necessary payments, construction crews are only returning to limited operations this week rather than full-scale work resumption.
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