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cta should raise fares to balance budget: rta boss

cta should raise fares to balance budget: rta boss News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



cta should raise fares to balance budget: rta boss

the cta should join metra and pace in raising 2018 fares to have a balanced budget, or risk massive service cuts, warned the head of the regional transportation authority.leanne redden, executive director of the state agency that oversees the three transit authorities, said in a letter last week to cta president dorval carter that the cta had not offered “clearly identifiable and reliable revenue streams” to close the hole in its proposed 2018 budget. because of this, the rta would not be able to approve it under state law, redden wrote.if the rta does not approve, the budget cannot be adopted. the lack of a budget after feb. 1 would cause the rta to withhold some funding, which would result in “immediate service disruptions,” redden warned.“none of us wants to go down that path,” she wrote in the nov. 8 letter.it’s rare for the rta to issue such a letter to a transit agency under its umbrella and indicates that cta fare hikes or service cuts, or both, are likely. cta plans to announce its budget next week, said spokesman brian steele.the state budget passed last summer imposed a 2 percent sales tax surcharge plus a 10 percent cut in public transportation funds on the transit agencies. these cuts combined with sluggish sales tax growth will add up to 2018 funding losses for the cta, metra and pace. for the cta alone, the loss is over $33 million.“fare increases and service cuts are always options of last resort, and we’re always doing everything we can to av...