The Port Authority of New York and New Jersey proposed a record $45 billion 10-year capital plan that would map out the next decade of investment in the region’s transportation network.
Officials said the plan will complete major initiatives started in the 2017-2025 Capital Plan and advance a new generation of projects that will modernize and strengthen the agency’s infrastructure. The proposal will fund the completion of the new Midtown Bus Terminal, changes at the John F. Kennedy International Airport (JFK) and the Newark Liberty International Airport (EWR), as well as fund new initiatives like Newark’s new Terminal B, and more reliable mass transit access to LaGuardia Airport (LGA).
“The concluding capital plan provided the roadmap and funding for an historic decade of achievement at the Port Authority,” Port Authority Chairman Kevin O’Toole said. “This record $45 billion proposed 2026-2035 Capital Plan builds on a 104-year legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy. It’s a defining moment for our agency, proving that we deliver what we promise as we continue to raise the standard for what public infrastructure can achieve.”
The proposed plan would invest in new major projects like a new Midtown Bus Terminal to replace the current 75-year-old terminal; a new world-class aviation hub at JFK; and a top-to-bottom rebuilding of Terminal 1 at LaGuardia. The plan would fund the Port Authority’s state-of-good repair program for the rehabilitation of the George Washington Bridge and extensive rehabilitations of the Lincoln Tunnel Helix and Outerbridge Crossing.
“This proposed 2026-2035 Capital Plan is about building on real, measurable progress and delivering the next chapter of transformation across our facilities,” Port Authority Executive Director Rick Cotton said. “Over a decade of achievement, we’ve turned once-doubted visions into tangible, award-winning results, from world-class airport terminals and new bridges to a revitalized PATH system, and we are not letting up. The proposed new capital plan will ensure that the Port Authority’s agenda for the next decade is just as big and just as ambitious. The impacts will be visible and lasting: faster, more reliable commutes, streamlined, awe-inspiring, world-class terminals and infrastructure built to handle the next century of growth and change.”