From State Senator Craig Wilcox:
Lawmakers Return to Springfield for Final Three Days of Veto Session
As you may have heard, Chicago-area transit agencies have released updated 2026 budgets showing that while the region’s “fiscal cliff” has been delayed, the need for a long-term state funding solution remains urgent. As a member of the Senate Transportation Committee, it is certainly an issue I am following very closely.
Originally projected to face a combined $771 million shortfall, the CTA, Metra, and Pace now estimate a $230 million gap. This is largely due to expanded sales tax collections on online products, fare increases, and internal efficiencies. Those measures have pushed the funding crisis from early 2026 to the latter half of the year, but reserve funds are quickly running out.
CTA and Metra expect to exhaust reserves by late 2026, while Pace’s reserves will last into 2027. Without legislative action, regional shortfalls are projected to climb to $834 million in 2027 and $937 million in 2028, threatening service levels, maintenance, and regional mobility.
As legislators return this week to Springfield for the final three days of session for the year, public transit reform is a top item on the agenda. Lawmakers continued discussions at a hearing held during the first week of veto session, and as I reported last week, a new “wish list” of revenue proposals was unveiled. Legislators will play a central role in determining whether new revenue, reforms, or restructuring are required to keep the region’s public transportation system financially sustainable.
Additionally, CTA, Metra, and Pace recently presented their new budgets for 2026, and all three agencies are planning to raise fare prices anywhere from 25 cents to 13%. The agencies also plan to implement cost reductions to stretch reserve funds.
