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6/24/2005



Rail News: Rail Industry Trends

CTA obtains $54.3 million in additional state funding


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Chicago Transit Authority (CTA) officials won’t have to follow through on proposed service cuts, fare increases and layoffs. Yesterday, the Regional Transit Authority (RTA) approved $54.3 million in additional 2005 state funding for the agency, which will use the money to offset a $55 million budget shortfall.

Last month, the Illinois General Assembly appropriated an additional $54.3 million in public transit funding for 2005. The Illinois Department of Transportation will grant the money to RTA, which yesterday voted to allocate the entire amount to CTA.

However, the grant is a temporary solution; state agencies still need long-term funding increases to avoid future budget shortfalls, CTA officials said in a prepared statement.


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