Assembly Speaker Sheila Y. Oliver released the following statement today after Governor Christie announced plans to pull the drain on the ARC trans-Hudson tunnel project:
“This is a clear example of a lack of foresight. While this might be a financially easy decision to make in the short-term, the long-term ramifications of this decision on our economy, our infrastructure and our quality of life will be disastrous.
“This was clearly a fly-by-night decision made in a vacuum based on a three page memo lacking any substantive details. We have no information on the projected cost overruns of this project and whether they are even realistic and we have no idea whether the federal government might be able to offer more assistance. The Governor himself even admitted that he has not spoken directly with Senators Lautenberg or Menendez.
“With more than $600 million invested in this project already, the prudent thing to do would be to reach out to our federal representatives and state legislative leadership to explore alternative funding Dests.
“With the billions that this project would generate in real personal income alone, this will be yet another blow to residents struggling to find work in a shattered economy.”