By Larry Higgs | NJ Advance Media for NJ.com
on October 20, 2016 at 5:58 PM, updated October 20, 2016 at 5:59 PM
Tolls on the Port Authority’s bridges and tunnels will not be increased to help fund construction of new Hudson River rail tunnels, officials said Thursday after approving a financing plan for the Gateway Project.
Authority officials will discuss revising the agency’s 10-year capital plan next month to include Gateway, building a new Port Authority Bus Terminal and replacing the aging Newark Airport Monorail, said John Degnan, the board chairman.
Both Foye and Degnan said revising the capital plan won’t include a toll hike. The last toll hike took place last December as part of an increase that was phased-in over five years.
“The two governors said the Port Authority will take the lead for a financing plan,” Degnan said. “We’re not accepting that the Port Authority will pick-up the entire (local share of costs).”
The federal government and both states have agreed to a 50-50 financing plan for Gateway, but New York and New Jersey officials said they would turn to the Port Authority for some of that funding and to create a development corporation to apply for financing.
“Tolls on the Port Authority’s bridges and tunnels will not be increased to help fund construction of new Hudson River rail tunnels, officials said Thursday after approving a financing plan for the Gateway Project.”
We’ll call this “Lie #1”