Barack Obama and Donald Trump. (photo: Getty Images) Report: Trump Administration Shuts Down $13 Billion Obama-Era Rail Tunnel Funding Deal By Jacqueline Thomsen, The Hill 01 January 18 he Trump administration has shut down an Obama-era deal to have the federal government help fund a $13 billion rail tunnel project between New York and New Jersey, according to Crain’s New York Business . In a letter obtained by Crain’s, an administration official calls the deal for the federal government to fund half of the project “non-existent.” "Your letter also references a non-existent '50/50' agreement between USDOT, New York, and New Jersey. There is no such agreement," Federal Transit Administration deputy administrator K. Jane Williams wrote in Friday's letter, which came after New York and New Jersey requested federal loans to cover their part of the deal to split the cost of the work. "We consider it unhelpful to reference a non-existent ...