November 14, 2016
The Civic Federation supports the Chicago Transit Authority’s proposed FY2017 operating budget of $1.52 billion because the budget holds base fares flat and continues to make strategic capital investments despite ongoing state funding uncertainty.
As detailed in the report, the FY2017 budget does not rely on one-time revenue sources or service cuts despite declining fare revenue and includes a new transit tax increment financing (TIF) district to increase local capital funding for transit and enable the CTA to capture federal match dollars. The CTA is also still working to improve rider experience through fleet modernization, service level improvements and improved accessibility and security.
The CTA’s fiscal year begins January 1, 2017 and ends December 31, 2017.