The Port Authority of New York and New Jersey Board of Commissioners has approved a $45 billion capital plan for 2026–2035, marking the largest in the agency’s history. The new plan continues efforts from the previous 2017–2025 Capital Plan and introduces new projects aimed at modernizing and expanding regional infrastructure.
The capital plan allocates funds to major projects, including a $2.7 billion contribution to the Gateway Program, as well as ongoing state-of-good-repair initiatives such as rehabilitation work on the George Washington Bridge, Lincoln Tunnel Helix, and Outerbridge Crossing. It also emphasizes investments in sustainability, innovation, and both physical and cyber security.
In addition to approving the long-term capital plan, the board also passed a $10 billion annual budget for 2026. This includes $4.2 billion for operating expenses, $4 billion in capital spending, $1.7 billion in debt service payments, and a record $1.1 billion dedicated to safety and security.
Port Authority Chairman Kevin O’Toole stated: “The Board’s approval of this capital plan sets in motion a historic decade of activity for the Port Authority and for the region we serve. We are charting the next phase of a century-old mission defined by dreaming big, solving hard problems, and connecting millions of people to opportunity. This plan builds on the trust and momentum earned by delivering complex projects to a world-class standard. Through this visionary plan and the transformative work we continue to do, we are setting a new standard for the region and raising the bar for what public agencies can accomplish.”
Key elements of the 2026-2035 Capital Plan include continued redevelopment at Newark Liberty International Airport with construction funding for Terminal B through a public-private partnership; expansion of Terminal A; completion of AirTrain Newark; improved transit access; additional taxiways; and roadway upgrades.
At John F. Kennedy International Airport (JFK), funding will support opening new international terminals 1 and 6 starting in 2026, further progress on terminal replacements as needed based on demand growth, transformation of AirTrain JFK with higher-capacity trains and stations, enhancements at taxi hold lots including amenities for drivers, as well as ongoing improvements to road networks.
For LaGuardia Airport (LGA), planned investments will replace aging gates at Terminal A while preserving historical structures like Marine Air Terminal. The plan also provides resources for enhanced bus services (LGALink Q70) with dedicated lanes and improved stops.
The capital program supports completion of major bridge projects started under prior plans—including rebuilding Bayonne and Goethals bridges—and advances construction on a new Midtown Bus Terminal in Manhattan after years of planning revisions prompted by community feedback. The terminal project will be completed in two phases by 2035 with an estimated cost increase due to expanded scope following public input.
To fund these projects at crossings such as bridges and tunnels, changes include phasing out off-peak auto/motorcycle toll discounts over four years starting January 2027 while maintaining current discount programs for Staten Island bridges and trucks during off-peak hours.
PATH rail system improvements funded by this plan include increased rush hour service frequency; restoration of direct weekend service across all lines seven days per week beginning in 2026; installation of advanced fare gates using technology like CCTV and artificial intelligence to reduce fare evasion; infrastructure upgrades enabling faster service; platform extensions; expanded fleet size; resilience measures against extreme weather events; customer-focused technology updates such as tap-to-pay systems.
PATH fares will rise by $0.25 increments annually from summer 2026 through January 2029 due to operational costs not fully covered by existing fare revenue or government subsidies—currently fares cover about one-quarter of actual ride costs.
Investments at regional seaports aim to maintain competitiveness via more than $1.2 billion in private modernization funds targeting container operations expansion, sustainable equipment transitions (including electrification), lease requirements improving trucker experience, strengthened rail links increasing capacity/fluidity within port complexes like Newark-Elizabeth marine terminal area—all supporting job protection/trade facilitation/economic security throughout New York-New Jersey region. Work is underway with federal partners like U.S Army Corps of Engineers on harbor deepening projects ensuring safe passage for larger cargo vessels while restoring aging wharves/berths vital for future growth.
