The Port Authority of New York and the New Jersey Board of Commissioners have approved a record $45 billion 2026-2035 capital plan, continuing funding for major initiatives started under the 2017-2025 plan, as well as advancing what the agency calls “a new generation of projects” that will modernize, strengthen and expand its infrastructure around the region.
The centerpiece of the approved plan is the new Midtown Bus Terminal, designed to provide faster access to the Lincoln Tunnel, reduce congestion on city streets and support the transition to an all-electric fleet.
At Newark Liberty International Airport (EWR), the plan calls for a public-private partnership to design and build a new Terminal B and develop a new AirTrain transit system. The ongoing program of improvements at John F. Kennedy International Airport (JFK) will also continue, including doubling the capacity of the JFK AirTrain system with new state-of-the-art train cars.
Also over the next decade, the Port Authority plans to leverage more than $1.2 billion in private investment to modernize and expand container terminal operations and infrastructure at its seaport, and complete the World Trade Center campus with the construction of Tower 2 and Tower 5. The approved 2026-2035 Capital Plan also includes the Authority’s $2.7 billion comprehensive rehabilitation program Port and the extensive rehabilitation program of the Washington Bridge and the full contribution of the George Bridge of 2.7 billion. rehabilitations of the Lincoln Tunnel Helix and Outerbridge Crossing.
Spending on the new Capital Plan will begin next year with an allocation of $4 billion from the Port Authority’s 2026 annual budget, which the board also approved Dec. 18. With an 11% increase over 2025, spending will go to the JFK, EWR and Bus Terminal projects; improvements to the PATH transit system’s car fleet and 117-year-old track infrastructure; airport solar energy projects; and ongoing agency-wide efforts to reduce greenhouse gas emissions and protect critical infrastructure from the impacts of more frequent and severe storms and sea level rise resulting from climate change.
