Is there any news on the status of this project?

yes, delayed again :(

MTA can't start any major projects such as this one because of lack of funding.

yup, but the thing I never get is that they've been saving up money for years, can't they at least slow down, but not stop the construction?
They said the construction would start in December '04, and I was all happy I could soon see them dig tunnels and stations. Apparently this curse will continue. Though the Red Sox managed to end theirs that started in 1918. The Line started in 25, so my best guess is in 7 years they'll start digging :P

I don't know if any of you guys know about the ind second system, it was supposed to be built before the fiscal crisis.....alot of the new lines were going to serve queens and the bronx...they would have been the SAS extensions...but who knows if it'll ever happen...