Opposition Leader Peter Dutton has made an election campaign pledge to pump an additional $1.5 billion into Melbourne's airport rail if the coalition wins government on May 3.
This would shorten travel from the city to half an hour and reduce congestion on the arterial Tullamarine Freeway, the coalition says.
The additional $1.5 billion - which would take the Commonwealth share to $6.5 billion, or half of the estimated cost - would be matched by a future Victorian coalition government, Mr Dutton said.
However, the next state election isn't until November 2026.
The other catch is that the money will come from the axing of federal Labor's $2.2 billion commitment to the suburban rail loop.
That would likely be the final nail in the coffin of the contentious project, as the debt-laden state struggles to find funding.
The contentious suburban loop is a major 90km orbital rail project running from Melbourne's southeast to the outer west via the Tullamarine airport, with the first stage due to open in 2035.
Victorian Premier Jacinta Allan said the coalition's plan amounted to a cut, rather than a redirection of funding.
"It's April Fools' Day but Peter Dutton's cuts are no laughing matter," she told reporters at state parliament on Tuesday.
"His cuts will cut thousands of jobs, but those job cuts also mean cuts to the pay packets of those workers."
She deflected questions about whether Victoria would go it alone to fund the Suburban Rail Loop if the federal coalition won government, saying that was a hypothetical prospect.
"The Australian community is voting in the coming weeks to determine the outcome of the next federal election," Ms Allan said.
Victoria had hoped the federal government would cover a third of the more than $30 billion price tag for the first phase, but Labor has been reticent to go beyond the $2.2 billion it has already committed.
Infrastructure Australia, an independent government advisor, has called for an "exit strategy" in case it cannot be delivered as costs blow out.
A further $50 million will go towards future public transport in Melbourne's eastern and western suburbs, Mr Dutton said.
Prime Minister Anthony Albanese said the redirecting of funding from the suburban rail loop project showed the opposition leader was not ready for government
The coalition is scrapping for votes in outer suburbs, especially in the key battleground states of Victoria and NSW.
It comes off the back of Mr Dutton and Nationals Leader David Littleproud announcing $10 million for a new weather radar for western Queensland after visiting the flood-affected area on Monday.
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