CTA Board OKs Budget With No Fare Hikes, But Fiscal Challenges Loom

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CTA Board OKs Budget With No Fare Hikes, But Fiscal Challenges Loom
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CTA's $1.8 billion operating budget for 2023 was approved today. The plan doesn’t include fare increases for passengers but relies on nearly $400 million in federal stimulus money to make up for lost fare revenue.

The Chicago Transit Authority’s Board of Directors approved Tuesday a $1.8 billion operating budget for 2023, a plan that doesn’t include fare increases for passengers.But with ridership still down from pre-pandemic levels, the budget relies on nearly $400 million in federal stimulus money to make up for lost fare revenue — stimulus money the transit agency estimates it’ll use up by 2025.

That Meeting the Moment plan, introduced in August, aims to address an array of problems CTA riders and local leaders have loudly called on the transit agency to address — including reliability and service levels, safety and security, and people using the CTA as a place to stay. “In addition to improving service, I also want to improve our communications with this body and our 900,000-plus riders. My presence here today is a demonstration of my commitment to do just that,” Carter told a meeting of the City Council’s Transportation Committee.

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