Riders might soon feel the pinch of the CTA's budget mess.
Fare hikes, service cuts and employee concessions are all on the table as Chicago Transit Authority’s interim chief, Terry Peterson, tries to figure out how to fill a $300 million budget gap, the Chicago Tribune reports.
Peterson was approved by the City Council Transportation Committee as the new head of the CTA board today, replacing Carole Brown, who resigned as chairwoman at the end of September.
“When Springfield helped out in ’08, no one could have predicted where we are today,” Peterson told members of the Transportation Committee. “We’ve got to sit down with the State. We’ve got to go to the federal government.”
The Illinois State legislature tried helping the CTA last year by raising the sales tax a quarter cent on the dollar and mandating a city increase in the real-estate transfer tax.
Fares were already raised by an average 25 cents in January.
Before coming to the CTA, Peterson served as head of the Chicago Housing Authority, campaign manager for Mayor Richard M. Daley and alderman. (17th)
