The tunnel is leaving the station!

The federal government will finally deliver nearly $7 billion to help fund the engineering and construction of the long-awaited new train tunnel beneath the Hudson River, Senator Chuck Schumer announced Thursday.

The $6.9 billion grant – the largest ever issued by the U.S. – will cover nearly half of the Gateway Project’s expected $16-17 billion dollar price tag, making it one of the most expensive public works projects in U.S. history.

“Gateway’s future is assured and the most important public works project in America is all systems go,” Schumer declared in a press statement.

“The potential failure of one or both of the only two rail tunnels running under the Hudson River is one of the most pressing issues facing New York City right now, and that is why I have worked so hard to move this project and this critical work ahead with all due speed.”

The grant is the single largest ever awarded by the federal government and ensures that engineering and construction on the project can get underway as soon as next year with an expected completion date of 2035.

Critics of the project have seized on the escalating price tag and elongated timeline, a price tag that has escalated since the design and other preparation work got underway in earnest in 2021.

It was estimated last summer at $16 billion. A spokesman for the Gateway Development Corporation said the most recent uptick was because of a request from federal regulators to hold more money in a contingency fund, not because of the cost building the tunnel had increased.

Proponents — including Amtrak, New Jersey Transit and the MTA — say the new tunnel and its two tracks are essential to provide more reliable service for commuters and travelers.

Once the new tunnel is complete, the Gateway program will also fund the rehabilitation of the current train tunnel beneath the Hudson River, which was badly damaged when it was flooded by corrosive salt water during Superstorm Sandy.

That work is expected to be completed by 2038 — the railroads to potentially double the number of trains running under the Hudson River.