Anticipating Rauner's Cuts, CTA Trims $21M From Budget
CHICAGO (CBS) _- The CTA has decided not to wait around to see if Gov. Bruce Rauner's budget cuts become official, and has begun trimming its budget now.
Outgoing CTA President Forrest Claypool evaded the question when asked by WBBM Wednesday if the agency is considering fare hikes or service cuts. His chief financial officer, Ron DeNard, said the agency will be able to erase $21 million in subsidies for reduced fares without resorting to such measures.
"Although it will be difficult, we will work through and manage our expenses like we normally do to encompass this forecasted reduction," he said.
Rauner wants to cut $130 million overall from state funding to the CTA. The reduced fare program already costs CTA more than $100 million in unpaid fares each year.
DeNard said the CTA provided 16.1 million free rides during the first three months of 2015.