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New York/New Jersey port authority proposes $5.7 billion 2007 budget


The Port Authority of New York and New Jersey (PANYNJ) recently released a preliminary $5.7 billion 2007 budget that would reduce administrative costs and increase capital funds compared with this year’s budget.

The authority proposes to increase the operating budget 1.1 percent to $2.3 billion and allot more dollars to security improvements.

A proposed $2.5 billion capital budget, which would go up $625 million compared with 2006, would allocate funds to purchase 340 new Port Authority Trans-Hudson passenger cars. The budget also would authorize funding to begin preliminary planning and site acquisition for the Trans-Hudson Express tunnel, which PANYNJ is building in conjunction with New Jersey Transit.

The board is scheduled to vote on the budget Dec. 14.

Contact Progressive Railroading editorial staff.

More News from 12/1/2006