Sound Transit expects to begin construction of some project elements this year and to open for service between 2027 and 2029.
The financial plan reflects updates since the MTA warned of a fiscal cliff heading into 2023, with a projected $600 million deficit.
Without an increase in funding, Metro would be forced to make drastic cuts to rail, bus, and paratransit services across the region.
The budget allocates funding to increase the MBTA’s overall workforce to 7,643, which is 964 positions above what was budgeted for FY23.
The budgets are for fiscal years (FY) 2024 and 2025 and cover both operating and capital expenses.
The agency’s new budget will fund an equitable service plan that improves transit service frequency for Metro riders.
The budget provides the MTA a long-term financial plan, as it continues to rebound from the COVID-19 pandemic.
Once fully implemented, 75% of rail customer trips will have service every six minutes or better and the bus network will expand to 21 lines.
The proposed Capital Budget is $976 million, while the proposed 12-Year Program represents SEPTA’s largest-ever investment in the system.
The proposal uses SEPTA’s final installment of federal COVID relief funding that has helped to avoid service cuts and fare increases associated with pandemic-induced revenue losses.
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