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CTA Faces 40 Million Dollar Shortfall From Subsidy Delay
Chicago transit officials say a six month delay in federal subsidies creates a 40 million dollar cash shortfall for the CTA. Manager Paul J. Kole says the gap strains supplier relations but will not hinder the CTA from paying bills or meeting payroll. Subsidies flow from the Regional Transportation Authority, which receives funds from the U.S. Department of Transportation, four times yearly.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Transit Authority
CTA
Paul J. Kole
Regional Transportation Authority
U.S. Department of Transportation
Department of Transportation
RTA