New Jersey Can't Pay Its Share for Rail Tunnel, Moody's Says
- Amtrak's Gateway project a boost for region, though at a cost
- State's lack of transportation funding adds debt pressure
This article is for subscribers only.
New Jersey doesn’t have enough money to pay for its part of Amtrak’s proposed $20 billion Hudson River tunnel and related rail improvements, Moody’s Investors Service said.
“The state has exhausted its current transportation funding resources and will
need to identify new revenues or significantly cut costs to issue debt,” according to a by analysts including Baye Larsen that was released Tuesday.