Wednesday, May 17, 2006

Jones Lang LaSalle


Lautenberg, Schumer push new rail tunnel

New Jersey and New York's senators will highlight the proposed $6 billion new rail tunnel under the Hudson River this afternoon, holding an event to help focus attention on obtaining vital federal funding and engineering approvals.

Sens. Frank Lautenberg (D-N.J.) and Charles Schumer (D-N.Y.) are spearheading efforts in Congress to gain commitments to the project, which also has the support of Sens. Robert Menendez (D-N.J.) and Hillary Clinton (D-N.Y.)

Lautenberg and the others want U.S. Transportation Secretary Norman Mineta to fast-track authorization to begin the project's preliminary engineering.

The longstanding proposal to ease congestion for rail commuters between New Jersey and Midtown Manhattan has gained momentum in recent weeks, with Gov. Jon Corzine saying he wants construction to begin by 2009 and Eliot Spitzer, New York's front-runner in this year's gubernatorial campaign, also endorsing the plan.

Tunnel advocates say the new link will help meet increasing NJ Transit ridership, which is expected to double by 2015 to nearly 100,000 rush-hour passengers daily.

"If we fail to act, we face a future of more traffic, longer commutes and more pollution,'' said Lautenberg in a statement.