Overview
- Project leaders said they have nearly exhausted available cash and a Bank of America credit line and have told contractors to begin winding down.
- Prior agreements committed roughly $12 billion in federal grants and about $4 billion in federal loans to the tunnel program, with more than $1 billion already spent.
- A shutdown would immediately idle about 1,000 workers and could drive up restart costs, delay schedules, and strain rail service on the Northeast Corridor.
- USDOT has alleged violations of Disadvantaged Business Enterprise rules; the Gateway Development Commission says it has complied with updated requirements.
- The White House has tied release of funding to broader negotiations with Democrats on immigration, as governors, lawmakers and labor leaders press the president to restore payments.