Regional transportation officials Thursday took another step toward imposing a doomsday scenario of fare hikes and service cuts while still holding out hope that legislators in Springfield would address the transit funding crisis this summer.
Lacking $226 million in additional state funds to meet 2007 operating needs at the CTA, Metro and Pace, the Regional Transportation Authority met a July 1 deadline to amend its budget to make up for the shortfalls. RTA officials have been warning of the looming crisis for months.
The action means the CTA can continue with plans to increase peak fares to $2.75 for bus rides and $3.25 for elevated train rides in September, as well as make $15 million worth of service reductions. The CTA also will make administrative cuts and delay overhaul of buses and rail cars.
