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3/9/2007



Rail News: Rail Industry Trends

SEPTA to hold hearings on proposed FY2008 fare increase, service cuts


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Next month, the Southeastern Pennsylvania Transportation Authority (SEPTA) will hold a series of public hearings to discuss proposed fare increases and service cuts in fiscal-year 2008. The measures would help make up a projected $150 million deficit in the proposed $1 billion FY2008 operating budget.

The authority has proposed two budget plans — one that assumes additional state subsidies will be available and one that doesn’t. Under Budget Plan A, SEPTA would raise fares 11 percent to generate an additional $29 million in revenue and seek $100 million in state subsidies.

Under Budget Plan B, the agency would hike fares 31 percent to generate an additional $69 million in revenue and implement a 20 percent across-the-board service reduction to save $60 million in expenses. The authority also would eliminate about 1,000 jobs.

Last month, Pennsylvania Gov. Edward Rendell reiterated the need for a statewide dedicated transit funding source. He has recommended charging a 6.17 percent oil company gross profits tax.




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