The Port Authority of New York and New Jersey approved a $7-billion preliminary budget last week that covers operating and capital expenses for 2012. The budget is subject to ongoing review and an internal audit, the agency says.
Capital spending will account for $3.66 billion of the budget. This includes funding for improvements to transportation facilities including airports, bridges, tunnels, and Port Authority Trans-Hudson (PATH) trains. It also includes a continuation of funding to the World Trade Center project.