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6/23/2023
The Washington Metropolitan Area Transit Authority yesterday released a financial plan to address a $750 million budget shortfall expected in fiscal-year 2025, when COVID-19 federal relief funds are expected to run out.
Without more funding, WMATA would be forced to make "drastic cuts" to all services, agency officials said in a press release. WMATA's structural funding issues were exacerbated by the pandemic, causing an unprecedented shortfall in financing. Other factors affecting funding include inflation and rising labor costs, decreased revenue due to lower ridership, and local and state subsidy reductions.
If WMATA balances the budget with service cuts, two-thirds of existing service across all rail, bus and paratransit services would be eliminated with no service after 9:30 pm. Rail riders would wait an estimated 20-30 minutes for trains on all lines.
"Customers would see longer waits, constant gridlock, higher fares and reduced operating hours, and the region’s economy could stagnate," said WMATA Board Chair Paul Smedberg.
Over the next year, WMATA will speak with leaders at all government levels as well as businesses and other key stakeholders to explore long-term funding options, WMATA officials said.
Despite the shortfall, ridership is growing and customer satisfaction is rising, WMATA officials said. In May, weekday rail ridership was at 50% of prepandemic levels. Rail customer satisfaction is 84%, up 16% compared to the same period last year.