Funding Already in Trouble For New ARC Tunnel?

Are you kidding me? Experts are already warning that funding for the $8.7 billion tunnel is in jeopardy, despite commitments for billions in aid from the federal government, state of New Jersey and the Port Authority of New York and New Jersey.

It's the federal portion that's in jeopardy - the part that Senators Lautenberg and Menendez were busy crowing about at the groundbreaking ceremonies earlier this month along with Governor Corzine.

Funding for New Jersey’s second commuter rail tunnel to Manhattan may be $3 billion short of its price tag, which could leave the state few options — such as higher tolls and taxes — if the federal government fails to provide that money.

A weak economy could force congressional leaders to delay or reduce federal funding for a project that has received commitments from the state, New Jersey Turnpike and Port Authority that total $5.75 billion.

New Jersey officials refused to speculate about – or rule out – higher tolls.

“I think our folks, our federal representatives are working very, very hard to make sure that never happens,” said Stephen Dilts, the state’s transportation commissioner.

So, where did the money go? It's vaporware. And now, the likelihood exists that New Jersey will have to contemplate higher taxes or tolls to make up the shortfall.

Wonderful.

This is what we get when politicians make promises they can't keep.