RTA Warns of Service Cuts
By Chuck Sudo in News on Jun 24, 2011 6:40PM
The Regional Transportation Authority is warning of service cuts to CTA, Metra and PACE if it doesn't receive $400 million owed it by the State Legislature. It's the latest in the pas de deux between RTA and Springfield where the transportation authority says they're tapped out and the General Assembly increases its borrowing limit or gives RTA a partial payment.
Gov. Quinn signed legislation last year increasing the amount RTA could borrow to bridge its cash shortfalls to $400 million. RTA Executive Director Joe Costello said they've gone through that, with Springfield still owing them $398.9 million and warned of "dire cuts" if they have to switch money from operations to cover their borrowing.
Even though Costello's banging the drum about service cuts, both Metra and CTA say they aren't planning any service cuts of their own and can get through the year without problems.