After a two-week review period, Gov. Christopher Christie again announced an end to the multi-billion dollar Hudson River tunnel project, citing estimated cost overruns and an inability to reach an agreement with federal officials on how to pay for the tunnel, his office said in a statement Wednesday.

Federal cost estimates for the tunnel range from $9.8 billion to $12.7 billion, the governor's office said.

Proponents said that "Access to the Region's Core"—otherwise known as the ARC Hudson Rail tunnel—would ease the burden on overtaxed rail lines and existing tunnels and improve rail service in the Northeast region overall. Neysa Pranger of the Regional Plan Association told Patch that Morris-Essex line trains would have made use of the tunnel and that round trip travel time between Maplewood and New York Penn Station was expected to be reduced by 28%—from 95 minutes to 69 minutes—due to the tunnel. An interactive station map at rpa.org  shows estimated travel time reductions for all affected rail stations.

Assemblywoman Mila Jasey stumped for the project at the Maplewood Train Station on October 19, garnering a giant postcard full of signatures in support of the project to be sent to the governor.

Christie, however, said he would not leave taxpayers on the hook for the projected $2.3 to $5.3 billion in overruns. The governor's office said that the state is currently responsible for $2.7 billion plus overruns.

Christie, in a press conference on Wednesday, said the federal government would only agree to pick up $378 million in cost overruns, though four plans submitted by the Department of Transportation were designed to mitigate financial issues that the 15-year project has run into.

To the governor, $378 was not sufficient to make up for what he said could be an uncontrollable, ever-escalating price tag. The four plans proposed to reduce the scope of the work by removing risk, borrowing from federal programs, and reducing the scale of the project. One would remove the state's risk entirely as a public/private partnership with a company vying for the grants as opposed to the state. Another plan included the federal government, the Port Authority and the state of New Jersey all adding $358 million to cover cost overruns.

However, Christie said reduced plans would only "reduce the utility for those who would use it [the tunnel]."

"In the end, my decision does not change," Christie said. "I cannot place upon the citizens of New Jersey an open-ended letter of credit, and that's what this project represents."

On the local level, Maplewood Mayor Vic DeLuca disagreed with Christie's decision: "This is a short-sighted decision, one that could negatively impact Maplewood in future years. We know how important easy access is to New York City, and constructing a new tunnel is about the economic viability of our state. Governor Christie is wrong on this issue. Hopefully in the near future, the next governor will have the vision this one lacks."

On the macro level, U.S. Transportation Secretary Ray LaHood expressed extreme disappointment. The decision to abandon the project, LaHood said, "is a devastating blow to thousands of workers, millions of commuters and the state's economic future. The governor's decision to stop work on this project means commuters—who would have saved 45 minutes each day thanks to the ARC tunnel—will instead see no end to traffic congestion and ever-longer wait times on train platforms."

"Our DOT team has worked hard over the last several weeks to present Governor Christie with workable solutions to bring the ARC tunnel to life," said LaHood, who also thanked U.S. Senators Frank Lautenberg and Robert Menendez for their efforts in lobbying for the project.

The governor first killed the project Oct. 8, prompting an onslaught of criticism from transit advocates and elected officials.  The governor agreed to take a second look at the project after a meeting with U.S. Department of Transportation Secretary Ray LaHood. The federal government and Port Authority of New York and New Jersey had each allocated $3 billion for the tunnel, which would be America's largest public works project.

The project was first proposed over 15 years ago as a way for commuters to have easier, faster access into the city. Democrats and transit advocates say the state is likely to lose the $3 billion already invested in the tunnel and are to return the $350 million it borrowed to begin construction, which began last year. An Associated Press report says the state of New York is likely to put a claim on the $3 billion the federal government had granted to the Port Authority for this project; New York would likely use those funds to make progress on the Second Avenue Subway Project, which has also run into cost issues itself.

Ultimately, the harshest criticism of the decision came from U.S. Senator Frank Lautenberg, who said in a release: "This is a tragic day in New Jersey's history. Two weeks ago, Governor Christie made the biggest public policy blunder in New Jersey's history. Today he repeated it. Today he killed the prospect for improving New Jersey's economy and creating thousands of new jobs. He increased the amount of toxic fumes that will be discharged from idling cars stuck in traffic, and he took away an opportunity for New Jersey housing values to go up. . .  New Jersey Transit is coming off one of the worst summers for delays in recent memory. Fourteen hundred delays were recorded this summer, and just this week a minor derailment caused hour-long delays for thousands of commuters. Delays and derailments are only going to get worse on our aging infrastructure and thanks to the Governor, New Jersey commuters shouldn't count on new rail service options for decades to come."

Mary Mann contributed to this article.