Transportation officials said Friday the fiscal cliff isn’t as bad as first thought, but layoffs and service cuts are still a possibility in the Chicago area.
In recent weeks, the Regional Transportation Authority warned of a $771 million shortfall, created in part by the end of federal COVID relief money. The RTA, which includes the CTA, Metra and Pace, warned of a smaller budget shortfall, which could mean Chicago-area transit will be safe for this year, but higher deficits remain on the horizon.
Previously, the transit agencies were talking about service cuts as high as 40% and mass layoffs of employees. Those agencies are looking at fare increases of about 10% across the system. At the CTA alone, that could account for $30-35 million dollars.
Other increases could bring in more than $450 million in revenue.
This buys the transit agencies some time, but big deficits could have everyone talking about service cuts next year. Without an increase in state funding, the 2027 deficit is expected to be almost $780 million. In 2028, that number could top $888 million.
That’s why Chicago Mayor Brandon Johnson said he is looking to build a coalition in Springfield to bring in the needed funding.