TITLE

Pennsylvania Transit Agencies Eye Service Cuts, Fare Hikes

AUTHOR(S)
D'Ambrosio, Gillian
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/12/2003, Vol. 344 Issue 31633, p34
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
With mass transit systems facing lean times nationwide, Pennsylvania's two largest are mulling deep service cuts and fare hikes to bridge budget gaps, although the shortfalls have had little impact on borrowing plans and have not affected their bond ratings. “ They' re now at the point where they're having to look at cuts in service or raising fares, ” Forsgren said.Claudia Allen, chief financial officer of the Port Authority, said she is concerned that with ridership already down 6.5 0.000000or the current fiscal year, reducing service may drive away more riders.Like SEPTA and the Port Authority, Dallas Area Rapid Transit and Santa Clara Valley Transportation Authority in California are also dealing with fiscal challenges as of 2003.
ACCESSION #
9845676

 

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