Friday, September 30, 2011

Christie Announces Settlement Of Tunnel Dispute

Today, New Jersey Governor Chris Christie released the following statement regarding the settlement between the State of New Jersey and the Federal Transportation Administration:

“I am pleased to announce that we have negotiated a good-faith settlement with the Federal Transportation Administration that puts the interests of New Jersey taxpayers first by substantially reducing the federal government’s original demand. The 5-year payment schedule on a $95 million settlement – which contains not one additional dollar of New Jersey taxpayer money – would be offset by more than $100 million in insurance premium refunds. This represents a fraction of the federal government’s initial claim and won’t cost New Jerseyans any additional money, which would otherwise go to infrastructure improvements. I want to thank U.S. Transportation Secretary Ray LaHood and his staff for their good-faith efforts in working with us and putting the interest of New Jersey taxpayers ahead of politics. I also want to thank New Jersey Transit and Executive Director Jim Weinstein for their commitment to working toward this settlement.”

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