WEBVTT - Cory Booker on 'Cutting Thru Red Tape' on Tunnel Project(Audio)

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<v Speaker 1>Good afternoon, Charlie. Markets are under pressure today and mid

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<v Speaker 1>from the first Breaking news desk on Bill Maloney, Charlie

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<v Speaker 1>all right, thank you very much, Bill Maloney, and to

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<v Speaker 1>hear live breaking news over your Bloomberg Time Squawk. Ask

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<v Speaker 1>you a w K on new terminal. I'm Charlie pell

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<v Speaker 1>that's a Bloomberg business flash. Thank you very much, Charlie Pelletts. Well,

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<v Speaker 1>imagine trying to get the permits needed for a twenty

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<v Speaker 1>four billion dollar public transit project. It features two new

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<v Speaker 1>tubes that would go under the Hudson River to connect

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<v Speaker 1>New Jersey with midtown Manhattan, as well as several major

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<v Speaker 1>upgrades to the region's transportation infrastructure. Sure two dozen different

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<v Speaker 1>government agencies have a say in all this, and someone's

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<v Speaker 1>got to bring them all together. Joining us now as

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<v Speaker 1>Senator Corey Booker, Democrat from New Jersey U S Senator

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<v Speaker 1>joining us from Washington, d C. Home of Bloomberg one

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<v Speaker 1>and one oh five point seven h D two. Senator Booker,

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<v Speaker 1>thank you very much for being with us. Just give

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<v Speaker 1>us an update if you can on the the gateway

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<v Speaker 1>of project and all of the red tape that you

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<v Speaker 1>are trying to cut through. Thank you. What people who

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<v Speaker 1>are in the greater New Jersey, New York region know

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<v Speaker 1>how critical this infrastructure project is. In fact, the Secretary

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<v Speaker 1>of Transportation says, this is the nation's most important infrastructure

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<v Speaker 1>project because the Hudson River is the busiest river crossing

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<v Speaker 1>and all of North America, and it claws up the

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<v Speaker 1>Northeast Corridor, the biggest busiest rail traffic in America, and frankly,

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<v Speaker 1>it carries more people than plane travel to and from

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<v Speaker 1>the north East Quarridor. So this is an urgently needed project,

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<v Speaker 1>and I came into the Senator it was derailed, and

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<v Speaker 1>we've been working to pull everybody together, the two governors,

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<v Speaker 1>of four Senators, the Obamba administration to get this thing going.

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<v Speaker 1>And finally we've gotten it moving. I was able to

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<v Speaker 1>get a bill through some legislation through with Roger Wicker

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<v Speaker 1>leadership from the South Um Republican and now we have

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<v Speaker 1>funding mechanisms in place. So a lot of these things

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<v Speaker 1>are moving thanks to some great leadership on both sides

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<v Speaker 1>of the river. But the challenge now is do we

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<v Speaker 1>have to wait years more than a decade to get

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<v Speaker 1>these tunnels done? Or can we streamline, not taking shortcuts,

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<v Speaker 1>but streamline a lot of this bureaucracy so we can

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<v Speaker 1>get it done because every year, uh that we wait,

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<v Speaker 1>we lose so much money and hurt the environment even more.

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<v Speaker 1>Senator Book, you want a special election to represent New

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<v Speaker 1>Jersey in the US Senate, then in November re elected

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<v Speaker 1>to a full six year turn out. You've been there

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<v Speaker 1>a few years. What are you finding is the biggest

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<v Speaker 1>stumbling block to a project like this? It makes sense,

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<v Speaker 1>and everybody who doesn't want to streamline bureaucracy, well, that's

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<v Speaker 1>the beauty of my experience in the short time I've

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<v Speaker 1>been in the Senate for two and a half years,

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<v Speaker 1>is that if you actually reach out and and work

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<v Speaker 1>with folks and and talk with them, you can get

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<v Speaker 1>Republican partners on issues that you're passionate about. So from

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<v Speaker 1>criminal justice reform, gosh, I've even passed legislation with with

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<v Speaker 1>Ted Cruz, and so this is a project again that

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<v Speaker 1>was broken installed, but because of bipartisan work, we've been

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<v Speaker 1>able to get something just over the last nine months

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<v Speaker 1>from dead installed, then the water installed, and now really

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<v Speaker 1>moving down the track. Now this is a great area

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<v Speaker 1>again of bipartisanship, where I'm finding Republican partners and saying, hey,

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<v Speaker 1>let's streamline a lot of these things. In fact, some

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<v Speaker 1>of the loan processes that often that make it cumbersome.

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<v Speaker 1>We were able to already get legislation included in one

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<v Speaker 1>of the bigger transportation bills going through to streamline the

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<v Speaker 1>loan processes. But I know this from being a mayor,

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<v Speaker 1>that every hour lost in a project is money. And

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<v Speaker 1>I know how much New Jersey transit writers are hurting

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<v Speaker 1>right now because of not having these tunnels. So I

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<v Speaker 1>want to try to speed this along as quickly as possible.

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<v Speaker 1>And yes, I'm pleased that I have friends on the

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<v Speaker 1>other side of the aisles who are willing to work

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<v Speaker 1>with me. Uh Senator A Booker. It's been reported that

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<v Speaker 1>three billion dollars in potential costs would be added to

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<v Speaker 1>the project if it takes three full years in order

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<v Speaker 1>to secure all the necessary permits. That's the kind of

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<v Speaker 1>stuff you're talking about. Yeah, and people don't realize how

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<v Speaker 1>ghastly the costs are. The longer and more complicated the

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<v Speaker 1>bureaucracy is. I don't want to short take any shortcuts

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<v Speaker 1>on environmental reviews and the like, but people have to

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<v Speaker 1>understand and I won't allow that to happen. But if

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<v Speaker 1>we can streamline this bureaucracy, think about this, it actually

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<v Speaker 1>has a better impact on the environment if you do

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<v Speaker 1>things quicker, because the longer we now have people stalled

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<v Speaker 1>in traffic with all of that emissions going into the air,

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<v Speaker 1>the longer we take for this and the more people

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<v Speaker 1>are having to find more secuitous routes into the city,

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<v Speaker 1>the more damage is being done. So there is cost

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<v Speaker 1>reasons for this, environmental reasons. And then the other one

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<v Speaker 1>that naturally we all know is my commuters have to

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<v Speaker 1>live a lot earlier because they can't count on the

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<v Speaker 1>rail transit not being delayed. So they're not lost for work,

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<v Speaker 1>they're losing time with families, um, they're they're endangering their jobs.

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<v Speaker 1>The urgency to get this done as quickly as possible

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<v Speaker 1>is there, and I know we could streamline these processes

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<v Speaker 1>and get it done more timely. Fashioned Senator book or

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<v Speaker 1>your spokesman downplayed speculation that you may be on the

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<v Speaker 1>on a very short list to be the vice president

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<v Speaker 1>vice president nominee if Hillary Clinton, of course, that she

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<v Speaker 1>seems poised to do whins the Democratic nomination. Would that

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<v Speaker 1>but what is that a step you consider seriously taking?

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<v Speaker 1>I mean, would not would this not help you move forward?

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<v Speaker 1>Some of these things you're so passionate about. You know

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<v Speaker 1>what I've I've found in the last two and a

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<v Speaker 1>half years in the Senate that I can champion things

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<v Speaker 1>and actually deliver for my state. I love my job,

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<v Speaker 1>I'm new in it. I really want to stay put,

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<v Speaker 1>and it's nice to be on this short list and

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<v Speaker 1>hear my name and trust me. I just saw my

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<v Speaker 1>mother's from Mother's Day and she was flattered by it all.

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<v Speaker 1>But she has a saying. She says, behind every successful

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<v Speaker 1>child is an astonished parent. So I'm happy that she's

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<v Speaker 1>being astonished. But the reality is I got work to do.

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<v Speaker 1>So you would turn it down if Hillary Clinton asked you.

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<v Speaker 1>I'm not saying that. I'm just saying right now, let's

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<v Speaker 1>focus on getting the job done in the Senate. All right, Well, well,

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<v Speaker 1>I'm gonna take that as a maybe I'll call your mom.

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<v Speaker 1>Senator Booker, Senator Corey Booker, thank you so very much

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<v Speaker 1>for joining us, Democratic senator from New Jersey. Joining us

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<v Speaker 1>from Washington, d C, home of Bloomberg. I'm Kathleen Hayes.

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<v Speaker 1>Along with Pim Fox. We're taking stock on Bloomberg Radio. Bloomberg.

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