The Port Authority of New York and New Jersey proposed a record $3.3 billion of capital spending in 2009 as part of a $6.71 billion preliminary budget released yesterday. Slightly more than half of the capital program would be financed through bonds and notes.

Under the proposal, capital spending would increase 28.1% over the current year's $2.51 billion, primarily due to increased spending to rebuild the World Trade Center site and for a tunnel under the Hudson River. The authority board expects to vote on the budget Dec. 17.

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