New York Construction Report staff writer
The Port Authority of New York and New Jersey today unveiled its proposed $9.4 billion budget for 2025, focusing on an ambitious slate of infrastructure projects aimed at transforming the region’s airports, bridges, tunnels, and rail systems. The agency’s capital investment for the year is slated to reach a historic $3.6 billion, a 26 percent increase over 2024, underscoring its commitment to addressing critical infrastructure needs and maintaining global competitiveness.
Among the key initiatives in the 2025 capital plan is the ongoing redevelopment of the region’s major airports, the rehabilitation of the George Washington Bridge, and a significant overhaul of the PATH commuter rail system.
The proposed budget includes the continuation of several high-profile projects that are already underway, including the $2 billion Restoring the George program, which is rehabilitating the iconic George Washington Bridge, the world’s busiest vehicular bridge. Additionally, the Port Authority is investing in the modernization of the PATH rail system, with a $430 million initiative aimed at upgrading rail cars, infrastructure, and technology to improve reliability and service.
Funds are also earmarked for critical upgrades to major New York-area airports, including John F. Kennedy International (JFK) and Newark Liberty International (EWR).
At JFK, ongoing construction is expanding and modernizing terminals 1 and 6, while also reconfiguring the airport’s roadways as part of a broader transformation into a world-class travel hub. At Newark, planning continues for the EWR Vision Plan, which will replace the outdated AirTrain system and introduce new mass transit solutions to better connect the airport with the region’s broader transit network.
To support the agency’s capital investment and address financial challenges caused by the COVID-19 pandemic, the Port Authority is proposing a $0.25 toll increase for all vehicle classes, set to take effect in January 2025.
