Capitol Fax.com - Your Illinois News Radar


Latest Post | Last 10 Posts | Archives


Previous Post: Vote YES to 340B Legislation That Protects Healthcare Services in Your Community
Next Post: Say No To Anti-Competitive Transmission Legislation

Group revises its transit revenue forecast upward

Posted in:

* Earlier this year, the Taxpayers’ Federation of Illinois projected the RTA would receive an unexpected $150 million in sales tax and state matching funds due to a broadening of the online sales tax. TFI has now updated its projection for 2025 to $200 million. Next year’s $225 million forecast has not changed…

The following statement may be attributed to Maurice Scholten, President of the Taxpayers’ Federation of Illinois:

The Taxpayers’ Federation of Illinois now projects the Regional Transportation Authority (RTA) will finish 2025 with at least $200 million in additional sales tax and matching State of Illinois revenues than what the public transportation system expected in December 2024.

Coupled with other RTA cost control maneuvers and outstanding emergency cash reserves, these funds allow northern Illinois public transportation service boards to backfill structural deficits and delay the looming “fiscal cliff.”

Our latest projection is based on data recently available through the Illinois Department of Revenue and the Illinois Office of the Comptroller. We presume steady economic conditions and no disruptions to ordinary tax collections, processing and distribution practices. We also appreciate the budgetary revisions shared Oct. 3 with the RTA Ad Hoc Committee on Transit Funding that more accurately consider a new state sales tax law that took effect on Jan. 1.

If there are no further changes to the Illinois tax structure and present economic trends continue, we still project the RTA will receive in 2026 more than $225 million in sales tax and matching State of Illinois revenues than what was distributed in 2024.

The RTA’s recently revised revenue projections for 2025 are essentially in sync with TFI’s new number.

* More…

posted by Rich Miller
Thursday, Oct 9, 25 @ 8:49 am

Comments

  1. Chief equity and engagement officer for CTA. no wonder.

    Comment by Blue Dog Thursday, Oct 9, 25 @ 9:24 am

  2. == Denise Barreto, former chief equity and engagement officer for the CTA, said many Black residents on the South and West sides don’t have accessible public transit in their neighborhoods, making them more car dependent. ==

    This is true, even if you dont like the title of the individual making the statement.

    Comment by low level Thursday, Oct 9, 25 @ 9:36 am

  3. =Chief equity and engagement officer for CTA. no wonder.=

    So you’re going to dismiss the lack of transit options in black neighborhoods because a title triggers you?

    Comment by Pundent Thursday, Oct 9, 25 @ 9:38 am

  4. Blue Dog, you have a problem with a CTA title that perhaps speaks to the need for CTA to serve broadly in its service area.

    But I suspect you are fine with this:

    https://ltgov.illinois.gov/councils/grac.html

    DEI comes in many forms and isn’t something that should trigger you.

    Comment by 47th Ward Thursday, Oct 9, 25 @ 9:47 am

  5. Sounds positive on the direction of funding and shortfalls.

    On the red line. They really need to clean up the safety and cleanliness issues. Fine to extend. But it doesn’t sound like at night you want to step foot on the red line.

    Comment by 44 Thursday, Oct 9, 25 @ 9:58 am

  6. ==Chief equity and engagement officer for CTA==

    Former.

    Comment by City Zen Thursday, Oct 9, 25 @ 10:22 am

Add a comment

Your Name:

Email:

Web Site:

Comments:

Previous Post: Vote YES to 340B Legislation That Protects Healthcare Services in Your Community
Next Post: Say No To Anti-Competitive Transmission Legislation


Last 10 posts:

more Posts (Archives)

WordPress Mobile Edition available at alexking.org.

powered by WordPress.