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RTA Says Falling Tax Revenue Strains Transit Budgets

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The Regional Transportation Authority says more people are riding public transit to save on cash. But thrifty consumers are also straining transit budgets. Public transit gets money from the region’s sales tax. But that revenue is falling short of budgeted levels.

RTA head Stephen Schlickman says he expects money from a city real estate tax will also be under expectations.

SCHLICKMAN: All indications are that that revenue source is going to be down. That makes for a tight budget year this year and it makes for a challenge for next year as well.

RTA expects to know how big that challenge will be by November. That’s when it expects to have 2009 budgets for Pace, Metra and the Chicago Transit Authority.

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