Rating upgrade clears way for $10B Hudson tunnel project

Rating upgrade clears way for $10B Hudson tunnel project

FILE - This Oct. 17, 2018 file photo shows damage to the Hudson River rail tunnel in New York. U.S. Sen. Chuck Schumer, one of the most ardent supporters of a multibillion-dollar plan to build a new rail tunnel between New York and New Jersey, has wasted no time in laying groundwork with the incoming Biden administration. (Pool Photo/Victor J. Blue/The New York Times via AP)

NEW YORK (AP) — Federal regulators have given a key approval to a $10 billion project to build a new train tunnel under the Hudson River between New York and New Jersey. The Federal Transit Administration announced Thursday it had upgraded the project’s rating. That makes it eligible to pursue federal grants. The widely anticipated move came after years of lower ratings by the FTA during the Trump administration. The administration had clashed with the two states over how much money they had committed to pay to build the tunnel. The current 111-year-old tunnel is a regular source of delays due to aging infrastructure.

Photo: FILE – This Oct. 17, 2018 file photo shows damage to the Hudson River rail tunnel in New York. (Pool Photo/Victor J. Blue/The New York Times via AP)