The Pennsylvania Railroad built Penn Station, along with the tunnels under both the Hudson River (north and south tubes) and East River (4 tunnels), completed in 1910.
They're now 107 years in continuous operation. And I -DO- mean "continuous". During rush hours there's a train through each tunnel every few minutes, sometimes several trains in a single tunnel at once.
It's not just Amtrak that uses them.
In fact, in terms of the number of trains and passengers, Amtrak is the "smallest" user.
Long Island and NJ Rail are the heavier users.
ENORMOUS numbers of commuters move into and out of Manhattan from both directions each day.
I made many trips through the East River tunnels in my career (two each working trip).
They're getting old and aren't going to last that many years longer.
So... they must be replaced. I'm not even sure if the existing tubes could be "rebuilt". They're constructed of iron "rings", each ring perhaps 30-36" end-to-end, to create the tunnel's outer shell. The insides are lined in concrete. I'm not sure if it's feasible to rebuild these, or whether they'll ultimately have to be "abandoned in place" in favor of completely new construction.
But this is a project that can't be discarded, it must be done. The failure of one Hudson tunnel would be a disaster to the city on a par with the World Trade Center. Perhaps worse, because the economy of the city and the region depends on reliable transportation in/out of the place.
Mr. Trump has made noise about repairing the country's infrastructure.
Penn Station -- and Grand Central Terminal -- are two of the most important parts of the infrastructure the city has, alongside of the subway system. Without either, the city would be in a world of hurt.
One other comment about the "profitable" Northeast Corridor.
Here's a secret for ya -- it ain't.
Oh, farebox revenue probably covers the cost of the operating crews, dispatchers, etc.
But it comes nowhere near paying for the rest of what's needed -- the maintenance, capital improvements, etc.
That's the problem with passenger railroading, whether it be the long haul or commuter traffic.
It costs far more to provide the service, than can be recovered from the farebox (by charging rates folks are willing to pay).
It's actually been this way for a LONG time. Passengers started becoming unprofitable for the railroads all the way back in the early 20th century.
Many of them couldn't get out of it at the time, however.
That's why Amtrak came about in the first place -- to "relieve them of the passenger-carrying burden".
Passenger is never going to be a profitable enterprise.
This doesn't mean conservative principles can't be applied.
The tunnels will have to be replaced -- there's really no choice.
What "choice" there is, is to fund the project properly and do it right from an engineering standpoint.
Something like this would be right up Mr. Trump's alley. Wasn't one of his ripostes in the debates (paraphrasing) "I know about this -- I'm in construction!" ??