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Christie: Rail Tunnel Beyond NJ’s Budget

New Jersey Governor Chris Christie

New Jersey Governor Chris Christie (credit: NJ Governor’s Office)

levon_feature Levon Putney
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TRENTON, N.J. (AP / WCBS 880) - Gov. Chris Christie said New Jersey does not have the money to pay for a multi-billion-dollar commuter rail tunnel into Manhattan.

LISTEN: WCBS 880’s Levon Putney reports

Christie has given a team of advisers until Friday to come up with financing options that could keep the $9 billion project on track.

The governor killed the tunnel project because of cost overruns, but Christie agreed to reconsider at U.S. Transportation Secretary Ray LaHood’s urging. The federal government is kicking in $3 billion to the largest public works project under way in America.

New Jersey’s share is $2.7 billion, with the state being responsible for overruns. Christie says overruns could add $2 to $5 billion to the price tag.

Sen. Frank Lautenberg said the number was significantly lower.

The tunnel would double rail capacity between New Jersey and New York.

(Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)