December 10, 2012
The Civic Federation strongly supports the Chicago Transit Authority’s proposed FY2013 budget of $1.4 billion as a structurally balanced plan based on shared sacrifice by union members, riders and CTA management. The budget implements several prudent and sustainable steps including a targeted fare increase. The new proposed fare structure maintains base fares but increases rates for fare passes, generating much needed recurring revenue for the CTA while aligning pass fares closer to the national average.
This spending plan is the first structurally balanced budget presented by the CTA in the last seven years. The full analysis provides recommendations to continue the balance and sustainability achieved in this budget proposal. These include developing a long-term financial plan, pursuing public-private partnerships for new transit funding and increasing budget transparency.