Federal investigators revealed Friday that a terrorist plot against New York City had been foiled.

Authorities say the suspects hoped to flood Wall Street by bombing PATH train tunnels leading from New Jersey to lower Manhattan. According to investigators, the plot was entering its planning stage and surveillance was about to begin. Homeland Security officials say they had been aware of the plot for months and assure there was never a threat of the plan being executed.

House Homeland Security Chairman Peter King (R-Seaford) says the incident exemplifies why New York needs added federal anti-terrorist funding, despite recent news of cuts. Governor Pataki (R-NY) agrees, saying New York City is a symbol of America and warrants more funding based on risk assessment.