CTA announces $2 billion budget plan, with goal of bringing more riders back
CHICAGO (CBS) -- The CTA is planning to boost its budget next year in an effort to bring back riders, but is not proposing any fare hikes in order to help hire more bus drivers and train operators.
The transit agency unveiled its $2 billion spending plan for 2024 on Thursday, representing a 9% increase in its budget from 2023.
The spending plan would not increase fares, or provide salary increases for administrators, and relies on $473 in COVID relief funding for the federal government.
"This is nice to have some good news come out, and I think the last couple months have just been rough for CTA riders," said DePaul University professor Joe Schwieterman, an expert on mass transit and public planning.
In September, the CTA announced a "schedule optimization" plan that essentially meant less frequent train service, Schwieterman said.
"This comes as people are coming back to transit," Schwieterman said. "So those trains are really crowded with fewer trains out there, and it's a sign that next year we could have some relief. With a little extra budget, CTA is going to be able to wrap things up a bit, and most importantly deliver the schedule that's advertised, and that's been lagging lately."
Schwieterman said the CTA adjusted its schedule in September to more realistically inform riders of what bus and train service they can actually deliver.
"That's had a lot of pushback from people; like, 'Aren't we out of this problem? Aren't labor shortages better now than they were a few years ago?' The CTA have had real trouble delivering that schedule, and with this new budget we're seeing that they're making a commitment really to ramp up."
The 2024 budget should allow CTA to provide more infrastructure improvements and increase security, according to Schwieterman.
"We're waiting to see a lot of the details, but that I think sets the CTA up hopefully to turn the corner a bit, and I can tell you the public is really frustrated right now with where things have been," he said.
However, Schwieterman noted the CTA will run out of COVID relief funding by 2026, leaving a huge budget hole.