The Chicago Transit Authority accepted a short-term $24 million bail-out from Gov. Blagojevich.
This pending approval by the Regional Transport Authority on Friday.
CTA's repeated full-page ads in the Tribune lay out the drastic cuts in public transport that would have taken place Sept. 16th; however, the "doomsday" cuts may take place in November if the transit authority doesn't figure out something long-term.
The proposed changes:
- 600 CTA employees will be laid off.
- Fares will increase 50 cents to one dollar per ride.
- 39 bus routes will be cut.
- Go directly to Jail. Do not pass Go. Do not collect $200.
Falling short $110 million dollars last year, the CTA is in dire need of funds. The legislature was not able to get enough votes to pass a $0.0025 sales tax increase to make the CTA solvent in the long-term.
Blagojevich didn't support such a tax because of it's cost to working class folks. You know, the million or so people who would have to pony up an extra 50 cents per ride to get to work every day.
Instead, the Gov. wants to close tax loopholes used by large corporations in order to ensure the CTA's long-term viability. We'll see if he can do that by November 4. hmmm...