Date: Aug 08, 2011
Press Release Number: 62-2011
Statement from William C. Rudin, Chairman:
Reinvestment in New York’s aging transportation infrastructure is essential to the economic vitality and security of New York City and the metropolitan area. The effects of the recent recession, increased security costs, and substantial investment in major capital projects have put a tremendous strain on the Port Authority’s budget. Additionally, the federal government has made substantial cuts in transportation funding allocations leaving the Port Authority little choice but to raise revenues through fare and toll increases.
The Port Authority has been a strong and innovative leader for our region’s transportation network, and we support their thoughtful and effective plan to raise the funding necessary to secure the bridges and tunnels that are so essential to New York’s competitiveness in the global economy.
The Port Authority of New York and New Jersey
Steve Coleman or Ron Marsico, 212 435-7777