CTA officials on Thursday unveiled a proposed 2009 budget that in general would increase the cost of riding city trains and buses by 25 cents each way, and bump the price of a monthly pass to $90 from $75.One fares go up do they ever come back down?
Officials blamed rising costs and the impact of a sour economy on tax revenues and said that an increase in state subsidies approved last year was not sufficient to make up the difference.
CTA President Ron Huberman noted that 396 jobs would be cut under the plan he submitted Thursday, but the agency faces $100 million in additional costs next year for employee wages, pensions and health care, tens of millions of dollars in rising fuel charges and less funding than it had expected from a new tax on real estate transfers in Chicago.
“If we thought we could have cut our way out of this, we certainly would have done so,” he said. “Today is not doomsday. (But) today is a tough budget.”
Thursday, October 9, 2008
CTA driving up fares
Crain's probably didn't offer a big surprise:
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