Illinois RTA Delays Vote on 2005 Budget

Shields, Yvette
December 2004
Bond Buyer;12/20/2004, Vol. 350 Issue 32033, p4
Trade Publication
The article reports that the Regional Transportation Authority of Illinois decided last week to delay passage of its 2005 budget until at least next week due to questions over how the Chicago Transit Authority (CTA) plans to address its own budgetary problems. The CTA had planned to vote on implementing sweeping service cuts to help eliminate a $55 million budget deficit. The agency last month adopted two versions of a budget; one that relied on increased state funding and another that included the service cuts. State lawmakers who met for a brief session last month did not approve $82.5 million in additional funding which would have triggered service cuts at the start of next year. The CTA, however, voted on Thursday to delay the cuts until the middle of next year. State officials have said transportation funding will be a priority in their upcoming spring session, but have provided no guarantees of additional dollars. The CTA's parent agency responded by canceling its Friday meeting during which it was set to approve a budget that includes funding levels for all its service boards, including the CTA, Metra commuter rail, and Pace suburban bus service.


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