Rail Link to J.F.K. Airport Falls Short in the Financing
Plans for a new rail link connecting Lower Manhattan and Kennedy International Airport hit a snag on Thursday as Congressional tax analysts estimated that the federal tax credits that New York City and state officials want to use for the project are worth about $1.3 billion less than the officials had hoped. Though the Congressional estimate does not jeopardize the $6 billion project, it will force New York lawmakers to scramble for other sources of federal money to make up the $1.3 billion at a time when federal transportation money is in short supply, especially in the Northeast.
By IAN URBINA and SEWELL CHAN; Ian Urbina reported from Washington for this article and Sewell Chan from New York