Virginia law currently limits increases on money the Commonwealth Transportation Board provides for the transit agency.
The COVID-19 pandemic has resulted in an 80% drop in ridership and a loss of $90 million in monthly revenue
The budget proposal also includes a 31% cut for the Environmental Protection Agency.
The FTA’s estimate puts rail’s price tag at $8.3 billion, which is $134 million more than the city’s budget estimate. HART now needs to find that additional money in the next 60 days.
An independent report from Jacobs Engineering also found that the rail system won’t be ready for service until September 2026.
To cover the bump, Gov. Murphy wants to raise taxes by more than $1.5 billion.
The authority’s milestone action marks the first time the regional transportation planning, programming, and funding body has funded a six-year transportation program.
Assemblyman Sean M. Ryan, who credited other local delegation members with helping bring home the Metro Rail funds, has called for a five-year, $100 million capital plan to address the system’s needs.
The F59PHIs, which were built by the Electro-Motive Division of GM in 1998 and have been rehabbed within the last five years, have similar parts and operating characteristics to Metra’s existing fleet of EMD F40s, some of which are 35 years old and are in need of overhaul.
The Chicago Transit Board also approved a $2.7 billion five-year capital budget for 2018-2022, continuing more than $8 billion of historic transit investment completed, begun or announced by Mayor Rahm Emanuel since 2011.
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