Date: Aug 08, 2011
Press Release Number: 59-2011
"Infrastructure forms the bones of a healthy economy," said Paul Steely White, Executive Director of Transportation Alternatives. "This is a tough but necessary step to get New York City's crumbling infrastructure back in good repair and invest in a vigorous economy. The Port Authority does not rely on state or local taxes from New York or New Jersey. So these fees -- a significant source of the Authority's revenue -- are crucial to the upkeep of the rails, bridges and ports that New Yorkers rely on every day."
The Port Authority was founded in 1921 to improve commerce and trade in the New York Harbor port district. As an interstate agency, the Port Authority neither relies on nor can raise taxes. Nearly one-third of its gross operating revenues come from tolls. The Port Authority is currently working with a private company to replace the 83-year old Goethals Bridge and is upgrading the PATH rail system with new rolling stock and a modern signal system.
The Port Authority of New York and New Jersey
Steve Coleman or Ron Marsico, 212 435-7777