Report: N.J. Gov. inflated ARC tunnel project cost estimates

NEWARK, N.J. — New Jersey Gov. Chris Christie inflated the cost estimates of the Hudson River rail tunnel project when he canceled it in October 2010, according to a U.S. Government Accountability Office report. The project was estimated by the FTA to cost as much as $12.4 billion, with New Jersey paying 14.4%, according to the report by independent congressional investigators.

Christie had said state officials estimated the price could reach $14 billion, with the state responsible for 70%, reported Bloomberg News.

To read the full story, click here.