Do not see this as an Amtrak project. Way too much politics in federal undertakings.
Now New jersey Transit on the other hand. There, there are possibilities.
Extend Raritan Valley line from High Bridge. Add stops in Hampton/Glen Gardner, Bloomsbury, a Park and Ride Rt. 78/ Alpha (the only station that could possibly cover cost), Phillipsburg. Cross the river and on to Easton, Bethlehem and Allentown. May even get as far as Reading, but that is pushing it.
New Jersey Transit already has the experience operating across state lines and dealing with other agencies - Port Jervis.
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