The Port Authority of New York and New Jersey (PANYNJ) proposed on Nov. 13 a record $45 billion 2026-2035 capital plan that maps out the next decade of investment in the region’s transportation infrastructure and builds on capital projects at the two states’ airports and upgrades to the Goethals and Bayonne bridges.
The proposal funds the completion of major projects already underway, including the new Midtown Bus Terminal to replace the obsolete, 75-year-old facility; the transformation at John F. Kennedy International Airport with a new aviation hub and a major upgrade of the AirTrain JFK system; a transformed Newark Liberty International Airport; and the PATH Forward program.
New initiatives that would receive funding include construction of the AirTrain Newark at Newark Liberty; improved and more reliable mass transit access to LaGuardia Airport; and rebuild of LaGuardia’s Terminal A. It would also include major service improvements for the PATH system, such as operation of all four lines seven days a week for the first time in 25 years and service increases during rush hours, nights and weekends.
The plan includes extensive rehabilitations of the Lincoln Tunnel Helix ($640 million) and Outerbridge Crossing ($336 million), which spans the Arthur Kill between Perth Amboy and Staten Island. The $2 billion Restoring the George rebuilding program at the 94-year-old George Washington Bridge is 60% completed.
The proposal also finances the Port Authority’s $2.7 billion portion of the ongoing Gateway program that will expand and renovate the Northeast Corridor rail line between Newark and New York City along the right-of-way between Newark Penn Station and New York Penn Station.
PANYNJ says the capital plan proposal would create more than 50,000 jobs, including more than 33,000 union construction jobs in the region.
“The concluding capital plan provided the roadmap and funding for an historic decade of achievement at the Port Authority,” said Port Authority Chairman Kevin O’Toole. “This record $45 billion proposed 2026-2035 Capital Plan builds on a 104-year legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy. It’s a defining moment for our agency, proving that we deliver what we promise as we continue to raise the standard for what public infrastructure can achieve.”
At John F. Kennedy International Airport, the first gates of the world-class international terminals 1 and 6 are set to open in 2026, and further sections of the rebuilt, simplified roadway network are set to come online. The plan also calls for designing and completing a transformation of AirTrain JFK with new train cars to double capacity, alongside new stations.
The proposed 2026-2035 Capital Plan for Newark Liberty would provide funding for the Port Authority to establish a public-private partnership to design and build a new Terminal B. The plan calls for expanding Terminal A, including design and construction work on additional gates for future growth. A new $3.5 billion AirTrain Newark is under construction, improving reliability and capacity.
Construction is also set to be completed in 2026 on a new community access point to the Airport Train Station, transforming airport and mass transit access for underserved areas of Newark and Elizabeth. The proposed capital plan would also finance a third major taxiway to reduce flight delays and a new, simplified roadway network.
The Port Authority plan calls for replacing the 85-year-old Terminal A at LaGuardia to meet demand and continued passenger growth while respecting the building rotunda’s landmark status. The plan would also fund an improved fast, free and frequent bus service with a new bus lane on the BQE and new on-airport bus stop. Work will also be completed on a new taxi hold lot at Terminal B.
Besides rebuilding the Bayonne and Goethals bridges, work is progressing on the 94-year-old George Washington Bridge, which is 60% completed. A new Midtown Bus Terminal, mired in delays and objections since the Port Authority’s 2019 proposal, is moving forward with a design for the replacement that engaged the community.
The new bus terminal will provide direct, faster access to the Lincoln Tunnel, expanded terminal space, 21st-century technology and support for an all-electric fleet. The project will be done in two phases: Phase One, including new ramps and the storage and staging facility, will be completed by 2030. Phase Two, including the new main terminal and green space, will be completed by 2035.
PATH service upgrades involve more frequent rush hour and late-night weekend service and reinstating direct weekend service: Journal Square-33 St, Hoboken-33 St, and Hoboken-World Trade Center. The plan also funds all new uptown tracks, making critical infrastructure investments to enable faster and more reliable service, and the installation of new fare gates to thwart fare evasion.
The plan builds on the $3 billion investment from the prior capital plan to make the 117-year-old system more reliable. The $430 million PATH Forward program is nearing completion, repairing aging stations, tracks and switches to deliver a smoother, more reliable experience for customers.
Port Authority’s proposal also builds on previous capital plan investments for the seaport. The agency is advancing the deepening of the harbor to 55 feet in cooperation with the U.S. Army Corps of Engineers to enable the safer and more efficient movement of larger, high-capacity cargo vessels.
PANYNJ aims to complete the World Trade Center campus with buildouts of Tower 2 and Tower 5, while making investments to maintain One World Trade Center as a Class-A office building that continues to attract high-quality tenants.
Since the COVID-19 pandemic, the Port Authority has been dealing with one of the most difficult operating environments in its history. The outbreak erased $3 billion in revenue, causing capital spending delays and cost-cutting measures. Inflation, supply-chain shocks and tariffs drove up the cost of steel, concrete and electrical components, while rising interest rates increased borrowing costs.
The lack of federal COVID-19 relief for the PATH system, combined with ridership losses, required additional funding to sustain operations.
In the face of these challenges, the Port Authority has forged ahead with its building agenda, including milestones such as Newark Liberty’s Terminal A, a reconstructed LaGuardia Airport, and two new Staten Island bridges.
The Port Authority also announced its proposed 2026 annual budget totaling $10.1 billion, which includes $4.2 billion for operating expenses; $4.1 billion in capital spending; and $1.7 billion in debt service payments; and a record $1.1 billion set aside for safety and security measures.
