RTA, City Transit Systems Begin to Peer Over the Fiscal Cliff – Governing

The Regional Transportation Authority in Chicago is considering relief from a state requirement that transit agencies collect at least 50 percent of their revenue from fares, according to a report. That’s part of a package of strategies the authority is pursuing as part of a recently adopted plan called "Transit Is the Answer."
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mqyl
3 years ago

There’s that phrase “fiscal cliff” again. Fiscal cliffs are such common phenomena in cities and states mismanaged because of corruption and greed.

Old Joe
3 years ago

Hmm, can’t operate on fares collected? Let’s tap Uncle Sugar to keep the grift going.

Giddyap
3 years ago

Transit is last millennium’s failed paradigm — let it die

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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