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10/26/2020
The Chicago Transit Authority (CTA) last week proposed a $1.64 billion operating budget for fiscal-year 2021, which factors in a $375 million budget deficit caused by the COVID-19 pandemic.
For 2021, CTA is facing an operating deficit caused by the loss of ridership and revenue during the pandemic. Further, state sales tax funding that supports transit is well below anticipated levels, CTA officials said in a press release.
“In order to ensure we can continue to provide this critical service, we absolutely must receive additional funding from Congress,” said CTA President Dorval Carter Jr.
Despite the challenges to the operating budget, the CTA continues to pursue capital investment, agency officials said.
CTA also proposed a $3.4 billion five-year capital improvement program (CIP) to fund modernization and capital improvement projects. The CIP is supported by funding from Rebuild Illinois, the 2019 state capital program. More than half of the capital funding will go toward previously announced major projects, including the Red Line Extension ($327.8 million), station accessibility improvements ($78 million), Cottage Grove Green Line station upgrades ($60 million) and Blue Line O’Hare Branch power improvements ($50 million).
Other capital projects to continue or begin in 2021 include testing of the 10 new 7000-Series rail cars, overhaul work on 5000-Series rail cars, and start of station and track structure construction of the Red and Purple Lines.