The Port Authority of New York and New Jersey is proposing a $10.3 billion budget for 2027 aimed at financing upgrades across the region's airports, rail lines, bus terminals and bridges. Roughly $4 billion of that spending plan would go toward capital projects, with major work already underway at one of the region's busiest airports and early planning beginning on a replacement terminal at another.
Where the Capital Dollars Would Go
According to Bloomberg, the capital spending includes the ongoing overhaul of Terminal 1 at John F. Kennedy International Airport, a project that has been reshaping one of the airport's main passenger hubs. The proposed budget also sets aside money for planning and design activities tied to a new Terminal B at Newark Liberty International Airport, a project that would eventually replace the terminal travelers currently use.
Funding in the proposal would additionally go toward continued improvements of the PATH rail system, the outlet reports, along with ongoing work on the George Washington Bridge. Those four projects represent the backbone of the capital spending plan described in the proposed 2027 budget.
Building on Last Year's Bigger Plan
The new proposal follows a much larger commitment commissioners made less than a year ago. On Dec. 18, 2025, Port Authority commissioners approved a $10 billion budget alongside an ambitious $45 billion capital plan stretching over the next decade, according to NJ.com. That 10-year plan set aside the largest single chunk, $20 billion, for the authority's airports, including Newark Liberty, while a second-largest allocation of $15.4 billion was directed toward the agency's six river crossings and bus terminals, per the outlet's report.
That same 2025 capital plan had proposed replacing Newark Liberty's Terminal B, which NJ.com described as more than 50 years old — language that lines up with the planning and design work now appearing in the 2027 budget proposal. The earlier approval also came bundled with rider and driver cost increases: PATH fares were set to climb to $4 per ride by 2029, and car tolls at the authority's six bridges and tunnels were slated to rise 3% plus an additional 25 cents, the report noted.
What Comes Next
The 2027 proposal represents the agency's latest attempt to keep pace with aging infrastructure spanning two states, from airport terminals to century-old river crossings. For now, the publicly available details center on the budget's overall size, the roughly $4 billion capital allocation, and the four marquee projects named in the proposal — JFK's Terminal 1, Newark's future Terminal B, PATH, and the George Washington Bridge.
