Port Authority Unveils $45B
Record 10-Year Capital Plan
NEW YORK—The Port Authority of New York and New Jersey has proposed a record $45-billion 2026–2035 Capital Plan, charting the next decade of investment in the region’s transportation network. The plan includers completing major initiatives from the 2017–2025 Capital Plan and advances a new generation of projects that will modernize, strengthen and expand the agency’s infrastructure around the region.
The proposal funds both the completion of major projects already underway. These include:
• The new Midtown Bus Terminal;
• The transformations at John F. Kennedy International Airport and Newark Liberty International Airport;
• The PATH Forward program;
• New initiatives, namely the new Terminal B anchoring a complete transformation of Newark Liberty;
• Improved and more reliable mass transit access to LaGuardia Airport;
• A world-class rebuild of LaGuardia’s Terminal A;
• Significant PATH service increases.
The proposed 2026-2035 Capital Plan announced on Nov. 13 would also continue the ambitious infrastructure program started in 2017 by delivering:
• A new Midtown Bus Terminal to replace the outdated existing 75-year-old terminal;
• Completion of a new world-class aviation hub at John F. Kennedy International Airport and a major upgrade of the AirTrain JFK system;
• A transformed Newark Liberty International Airport anchored by a new best-in-class Terminal B, a new AirTrain Newark, and the further implementation of the EWR Vision Plan;
• A top-to-bottom rebuilding of Terminal A at LaGuardia while preserving the landmark rotunda;
• A new era for PATH, with major service increases: more direct service, more frequency, and better reliability.
The proposed 2026-2035 Capital Plan funds large capital projects and the Port Authority’s $2.7-billion contribution to the Gateway Program. It also funds the Port Authority’s state-of-good-repair program, including further advancing the comprehensive rehabilitation of the George Washington Bridge and extensive rehabilitations of the Lincoln Tunnel Helix and Outerbridge Crossing. It also advances the agency’s commitment to sustainability, innovation and security initiatives—both physical and cyber—to protect agency assets and the public it serves, the Port Authority stated.
In addition to announcing its $45-billion proposed 2026-2035 Capital Plan, the Port Authority also announced its proposed 2026 annual budget totaling $10.1 billion, which includes $4.2 billion for operating expenses, $4.1 billion in capital spending, $1.7 billion in debt service payments; and a record $1.1 billion set aside for safety and security measures.
“The concluding capital plan provided the roadmap and funding for an historic decade of achievement at the Port Authority,” said Port Authority Chairman Kevin O’Toole. “This record $45 billion proposed 2026-2035 Capital Plan builds on a 104-year legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy. It’s a defining moment for our agency, proving that we deliver what we promise as we continue to raise the standard for what public infrastructure can achieve.”
Published: November 18, 2025.