Metra proposes $1.1B operating budget for 2024

Chicago commuter railroad Metra yesterday unveiled a proposed $1.1 billion operating budget for 2024 that includes a revised fare structure.

The proposed budget includes a $574.9 million capital spending plan aimed at continuing significant investments in rail cars, bridges and stations, Metra officials said in a news release.

The proposed budget is subject to public feedback, hearings and a Metra board vote in November.

The operating budget would be 4.9% higher than the 2023 budget, excluding $65 million in additional costs that will be reimbursed by Northern Indiana Commuter Transportation District. The increase is largely driven by expected inflationary adjustments — such as medical premiums, fuel and insurance — and higher contractual obligations, including union agreements, Metra officials said.

The operating budget would incorporate a fare structure revision that was proposed in summer. The revision calls for fares to be equal to or lower than prepandemic levels. Changes would include:
• replacing the existing 10-zone, distance-based structure with a simplified four-zone structure;
• discontinuing the $6 and $10 day passes and $100 super saver monthly pass;
• replacing the 10-ride ticket with a five-pack day pass available only in the Ventra app; and
• eliminating incremental fares, or the surcharge to travel beyond the zones indicated on a ticket.

The operating budget projects Metra will start the year at 47% of prepandemic (2019) ridership and finish the year at about 54% of prepandemic levels. This results in a projection of $243.9 million in system-generated revenue, mostly fares. To cover the rest of the expected operating costs, Metra would use $560.4 million in regional sales taxes and $223.7 million in federal COVID-relief funding, the release stated.