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RTA Statement on CTA Cuts |
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CHICAGO – Today many public agencies are confronting difficult economic conditions. Layoffs are an unfortunate component of the CTA's cost containment efforts, but not the only component. The RTA, CTA and the other service boards have all taken steps to identify savings and boost revenue, but the lack of adequate capital funding has exacerbated these financial challenges. Efficient, modern equipment would save operating expenses and allow the CTA, Metra and Pace to more effectively manage transit services.
The unprecedented combination of a slowing economy, collapsing housing market, record high fuel prices, new state-mandated programs and aging equipment is significantly reducing transit revenues and increasing costs negatively affecting the CTA, Metra and Pace. Under these economic conditions and without a meaningful state capital funding plan, the CTA, Metra and Pace will continue to face tremendous fiscal challenges over the coming months. The RTA will continue to work cooperatively with the service boards to ensure that the transit system is as efficient and effective as possible.
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