I'm surprised by how under the radar this announcement is, given its importance...
The Gateway project (which includes the new 4 track Portal Bridge and Gateway tunnel) has been put on the "fast track" for environmental permitting and review, and is expected to have all federal, state and local funding secured by 2018. The Portal Bridge is expected to begin construction in 2018 with the tunnel construction beginning in 2019.
NJ.com "New Hudson River rail tunnel could be funded by 2019" (http://www.nj.com/traffic/index.ssf/2016/10/schumer_new_hudson_river_rail_tunnel_could_be_fund.html)
Federal financing could be in place in two years to build two new rail tunnels under the Hudson River that would augment the crumbling 106-year old rail tunnels used daily by commuters, said U.S. Senator Charles Schumer, D-N.Y.
Agreements for federal funding of the Gateway Project could be in place by 2019, with construction starting shortly after then, Schumer said at a press conference with U.S. Transportation Secretary Anthony Foxx, U.S. Senator Robert Menendez , D-N.J., Amtrak and Port Authority officials Friday morning
Daily News "Hudson River tunnel project receives federal funding" (http://www.nydailynews.com/news/politics/hudson-river-tunnel-project-receives-federal-funding-article-1.2831151)
The new tunnel and the replacement of the Portal Bridge in New Jersey — parts of the overall Gateway project to improve trans-Hudson commuting — will get federal grants.
Meanwhile, the states and Amtrak, which owns the Hudson River tunnel, have access to a $35 billion program for low-interest loans to cover its portion of the bill.
There will also be a speedy environmental review to get construction started sooner, as early as 2019.