CTA approves budget without fare increases

A train ride in the city won't cost $3 next year.

As promised, the Chicago Transit Authority backed off fare hikes in approving its 2010 budget Thursday.

But the agency will forge ahead with service cuts and layoffs to balance its $1.27 billion budget unless there's a sudden windfall before Feb. 7.

The CTA had planned to raise fares from $2.25 to $2.50 for buses and $3 for trains and express buses.

Wednesday, Gov. Pat Quinn announced a deal brokered between the CTA and Pace to help both with budget shortfalls. The Regional Transportation Authority will borrow $166 million to be filtered to the CTA for its operating budget while the state, which has its own budget problems, will pay interest for two years on the loan. The state will also give $17 million to Pace for paratransit in 2010 and 2011.

The action comes with guarantees to drop planned fare increases from the CTA and Pace, which was set to raise the cost of paratransit rides for disabled individuals.

CTA service reductions will include: eliminating nine express routes that are matched by local routes, running buses less frequently on 110 routes, starting service later and ending it earlier on 41 routes.

CTA leaders said they will continue to seek compromises with unions and state aid to further minimize the service cuts through Feb. 7, when they are supposed to go into effect.