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1/28/2021
An economic analysis conducted by EBP US Inc. shows that public transit agencies face a projected shortfall of $39.3 billion through 2023 due to the impacts of the COVID-19 pandemic, the American Public Transportation Association (APTA) announced today.
Although agencies received much needed initial rounds of pandemic emergency funding passed by Congress last year, transit funding needs to continue to grow due to ongoing losses of ridership, fare revenue and state and local tax income, APTA officials said in a press release.
APTA is urging congressional leaders and President Joe Biden to provide an additional $39.3 billion in COVID-19 emergency funding to help transit agencies continue to provide transportation services to essential workers.
"The pandemic represents an existential threat to public transit jobs, businesses and service," said APTA President and Chief Executive Officer Paul Skoutelas. "Our request for $39.3 billion is necessary to avoid catastrophic decisions that will hurt our riders, our communities and the nation."
Without the additional dollars, many public transit agencies will need to cut service and lay off or furlough employees, he said. Four in 10 agencies are considering additional cuts to service to close budget gaps.
EBP's analysis, which was conducted for APTA, can be reviewed here.