Chicago Area Faces 30% Transit Cuts Without New Taxes, State Aid – Bloomberg
The crux of the issue is that while federal aid gave the transit authorities a lifeline when fare-box collections plummeted during the pandemic, they now need to replace that funding, which currently makes up about 20% of operating funding. Rides have returned to about 60% of pre-pandemic levels and the drop in fares is the largest contributor to the anticipated funding gap in 2026, according to the report.