Cheer up, Chicago.
Looks like you won’t have to pay $3 to ride the "L" no mo'.
CTA officials and Gov. Pat Quinn announced Wednesday a deal that will spare riders steep fare hikes floated by the agency earlier this year.
"Access to affordable and reliable public transportation is imperative for Chicago-area transit riders," said Governor Quinn in a statement. "Today’s comprehensive agreement will stabilize public transit and will hold the line against any CTA fare increases for the next two years."
The deal centers on a plan to use capital dollars -- the budget reserved for improvements and expansions -- for everyday expenses like salaries for its workers.
Legislators recently floated a plan to eliminate free rides for senior on all CTA buses and trains, but the measure was shot down in the state legislature.
The CTA's being forced into action. The agency is facing a $300 million deficit for 2010, and increasing deficits in the coming years.