Chicago Transit Authority Approves $2.0 Billion Budget, Faces 2026 Fiscal Cliff – Civic Federation

"The FY2024 CTA operating budget is balanced with $472.5 million in federal COVID relief funds, representing approximately 23.7% of the entire operating budget. The FY2025 projected budget gap of $481.2 million will also be balanced with federal relief funds. However, those funds will be exhausted in the following year, forcing the CTA to balance its projected FY2026 budget deficit of $576.9 million by securing new additional revenue sources, making severe service cuts or utilizing some combination of both strategies."