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On March 30, the Toronto Transit Commission (TTC) celebrated its 50th anniversary — and received a pretty big gift. The governments of Canada and Ontario, and the city of Toronto announced the commission would receive $1 billion during the next five years to improve, upgrade and expand its system.

The funding package is the largest-ever joint federal-provincial investment in Canadian public transit, according to a prepared statement. TTC will receive an average of $70 million annually from each governmental agency to upgrade and expand subway, streetcar and bus service.

The commission will purchase new vehicles, invest in new technologies, and increase capacity, speed and reliability.

TTC currently serves 1.3 million passengers daily.