NY, NJ governors announce $6.88B investment to fund Hudson Tunnel Project

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Kathy Hochul and Phil Murphy announced Monday that the Hudson Rail Tunnel project is officially moving forward after getting a $6.88B grant from the federal government.

Governors Kathy Hochul and Phil Murphy came together Monday to sign a deal providing funds to support the Hudson Rail Tunnel project.The project is officially moving forward after receiving a $6.88B investment from the federal government last month.The project's $16B total cost will be split 70/30 between the federal government and New York, New Jersey, and the Port Authority of New York and New Jersey.

RELATED: Gateway Tunnel Project gears up for Hudson River transformation"After decades of delays, the Gateway Hudson Tunnel Project is finally moving forward. This Full Funding Grant Agreement will provide the critical resources needed to deliver an essential piece of infrastructure that will bring millions of visitors to New York every year," said New York Governor Kathy Hochul.

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