With the precarious condition of the century-old rail links between New York City and New Jersey threatening to disrupt lives for the rest of the summer, commuters may wonder what became of all the money that had been pledged for a new train tunnel under the Hudson River.

Well, courtesy of Gov. Chris Christie of New Jersey, several million dollars of it have been used to provide heavily subsidized boat rides for a very small contingent of Jersey Shore residents like Tim Halligan. For more than three years, New Jersey has been paying nearly $95 a day for Mr. Halligan and each of his fellow passengers to commute to and from work in Jersey City or Hoboken.

They make the 90-minute round trip on a fast ferryboat, operated by Seastreak, that costs them $12 each way. Mr. Halligan, who knows a good deal after 25 years at a Wall Street investment bank, grinned as he discussed one of the best commuting bargains around.

“Direct to Jersey City for $12, take it or leave it,” he said on a recent weekday morning as the ferry roared away from Atlantic Highlands, where he lives.