Agency documents describe the program as the next phase in a transformation that began under the 2017–2026 plan, which financed major airport redevelopment and bridge replacements. 

The Port Authority notes that it is financially self-sustaining—receiving no state or local tax revenue—and that the new capital plan relies entirely on tolls, fares, fees and operating income.

UPDATE:  

The agency also announced on Nov. 24 that Rick Cotton, its 81-year-old executive director, will retire in January after being in the role since 2017. 

“Rick took on one of the toughest public-service jobs in America and delivered extraordinary results,” New York Gov. Kathy Hochul (D) said in a statement. His impact "spans airports, transit systems, bridges and tunnels, as well as the renewed culture of a more accountable Port Authority.”

Hochul has not announced appointment of a successor. 

Airports Lead the 10-Year Buildout

Aviation anchors the plan, receiving $20.7 billion—nearly half the proposed spend. At John F. Kennedy International Airport, the plan advances new terminals and roadways, a major upgrade of AirTrain JFK, North Cargo Area redevelopment and planning for a future Terminal 9. 

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RELATED.      Port Authority of NY and NJ Strives To Keep the Region Moving    

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At Newark Liberty International Airport, the next phase includes a $3.5-billion AirTrain replacement, a full Terminal B redevelopment, expanded gate capacity at Terminal A and extensive roadway and utility relocations. 

LaGuardia Airport will replace its 85-year-old Terminal A, add new roadway links and advance a Central Terminal Area hotel. 

Several of these large airport components—including Newark’s Terminal B and JFK’s Terminal 1 and Terminal 6—are being delivered through public-private partnerships and remain subject to FAA environmental review.

Transit, Terminals and Infrastructure

The Port Authority Trans-Hudson system receives $2.6 billion to support expanded seven-day operations on all four lines and more frequent weekend and rush-hour service. September 2025 ridership reached 5.5 million—about 79% of pre-pandemic levels—supporting the agency’s case for increased capacity. 

PATH’s capital work includes new fare gates, substation and radio-system upgrades, tunnel hardening and drainage improvements, contact-rail and track-system rehabilitation and signal upgrades at Harrison Yard.

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RELATED

Port Authority Picks Contractors for First Phase of $10B NYC Bus Terminal Replacement

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The $11-billion Midtown Bus Terminal replacement—known locally as as the Port Authority—remains the plan’s largest single project. The 2026 budget calls for a major construction ramp-up that includes the new main terminal, temporary facilities, street realignment and new tunnel and ramp connections. 

Rehabilitation at the George Washington Bridge continues, alongside a $640-million upgrade of the Lincoln Tunnel Helix and $336 million in improvements at the Outerbridge Crossing. 

In total, $15.4 billion is allocated for tunnels, bridges and terminals, with another $11.5 billion dedicated to state-of-good-repair work. 

The plan also sets aside $2.4 billion for technology, sustainability and resilience, including EV charging infrastructure, building-decarbonization work, cybersecurity modernization and all-electronic tolling systems.

Funding, Fees and Forward Path

The plan signals sustained multi-year procurement, positioning them for bid opportunities beginning in 2026. Newark’s AirTrain replacement, Terminal B redevelopment, roadway-utility relocations and supporting airside work represent some of the largest near-term opportunities. 

At JFK, roadway reconstruction, AirTrain upgrades and cargo-area redevelopment are expected to proceed as designs mature. 

The Midtown Bus Terminal program will enter its most construction-intensive phase during the first half of the plan period, and continued bridge and tunnel rehabilitation will sustain steady civil and structural work. 

FAA environmental review remains a key pacing factor for airport phasing, and the Port Authority notes that project packaging, staging and procurement sequencing will be adjusted as federal approvals are secured.

To support operations and capital delivery, PATH’s base fare would increase from $3 to $3.25 on May 3, 2026, with further 25-cent annual increases through 2029 before shifting to an inflation-index mechanism. 

Reduced fares for seniors and riders with qualifying disabilities would remain at 50% of the single-ride fare. Airport ground-transportation access fees would rise on March 15, 2026, with for-hire vehicle pickup and drop-off charges increasing from $2.50 to $5 and taxi pickup fees rising from $1.75 to $2, followed by additional 25-cent increases in 2027 and 2028.

Public hearings are scheduled in early December, with written comments due by Dec. 15. The board is expected to vote on the capital plan and 2026 budget on Dec. 18.

Aiming to frame the decade ahead, Port Authority Chairman Kevin O’Toole said the proposal “builds on a 104-year legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy.”