All articles tagged with #transit funding
The Illinois transit overhaul takes effect, replacing the Regional Transportation Authority with the Northern Illinois Transit Authority (NITA) and funding CTA, Metra, and Pace with about $1.5 billion yearly, backed by a Cook County sales tax hike, redirected road funds, and a tollway increase, while pledging no fare hikes this year and expanded service.
Rising gas costs have pushed more Americans to use public transit, with notable ridership gains in Los Angeles, San Diego, San Francisco, Washington, D.C., and Amtrak; yet transit agencies are financially strained and depend on public funding, prompting emergency loans and policy bills to prevent service cuts while continuing capital projects like the L.A. Metro D Line extension.
Illinois lawmakers approved a $1.5 billion transit funding package without broad statewide tax hikes, relying instead on reallocating existing revenue sources and targeted sales tax increases in the Chicago area, aiming to address a significant funding shortfall for transit agencies.
Illinois lawmakers approved a $1.5 billion transit funding package to prevent major service cuts in Chicago, including new revenue sources like sales tax redirects, toll increases, and no fare hikes for a year, while removing proposed taxes on streaming and luxury goods. The bill aims to address the transit agencies' financial struggles caused by pandemic-related ridership drops and federal grant reductions.
Illinois House Democrats proposed a plan to raise over $1 billion for Chicago area transit through new taxes, but Gov. JB Pritzker rejected the plan, citing the need for further negotiations. Without a funding agreement, transit agencies warn of significant service cuts and fare hikes, risking job losses and reduced mobility for residents.
Illinois Democrats propose a groundbreaking $1.5 billion transit funding plan that includes a first-in-the-world wealth tax on billionaires based on unrealized capital gains, along with new taxes on streaming services and concert tickets, but the plan faces opposition and concerns about its impact on investment and growth.
The Pennsylvania budget stalemate continues into its third month despite a temporary resolution for transit funding, with disagreements over spending levels, policy priorities, and political trust hindering an agreement among Democrats, Republicans, and the governor.