Sherrill Hosts Briefing on Impact of Partial Hudson River Tunnel Shutdown
February 26, 2019
Latest RPA Report Puts Price of Partial Tunnel Closure at $16 Billion
Washington, DC – Today, Congressional Mikie Sherrill (NJ-11) hosted a congressional briefing from the Regional Plan Association (RPA) on their new report outlining the catastrophic impact of a partial Hudson River Tunnel shutdown, further illustrating the urgent need to fund the Gateway Project.
The RPA report finds that even a planned, partial closure of the tunnel will result in a $16 billion hole in the national economy, combined with a “ripple effect” on businesses, jobs, wages, productivity, travel costs, property values, and health and safety.
“The Hudson River Tunnel is a chokepoint for the financial center – and most productive region – of the United States,” said Congresswoman Mikie Sherrill. “It is the most heavily trafficked piece of rail in the entire country and even a partial closure will suffocate our nation’s economy.
“It is astonishing in light of the urgent need for action, the Department of Transportation is choking off the funds already provided by Congress to start fixing this problem – $275 million from prior years and $650 million we just approved. This new report leaves no room for uncertainty – the federal government must come together for the good of our entire country and move forward on the Gateway Project.”
Key Findings From the RPA Report: The Cost of a Partial Shutdown of the Hudson River Tunnel
- $16 billion hit to the national economy over a 4-year period
- $22 billion dip in property values, including a disproportionate impact on homes in Essex County
- $1 billion in trucking delays
- Nearly 500,000 workers with longer, less reliable commutes
- Decline in commercial property values