Organizers of the Gateway project are ready to submit a major funding request to the federal government. It's the latest step to build a new rail tunnel under the Hudson river and repair the current one damaged by Sandy.

In order to secure a $5.6 billion federal grant, organizers of the project had to show that New York and New Jersey, as well as Amtrak, can pay half of the project’s total cost. Right now it's expected to cost a total of $12.3 billion.

Former Governor Cuomo had questioned whether New York state would pay its share of the costs. But the latest capital plan published this summer on his watch does include funding for the project.

President Biden's administration has shown support for the plans too.

Construction on the new tunnel is expected to begin in 2023.

For more on the Gateway tunnel, see our coverage here.