CHICAGO - The Regional Transportation Authority of Illinois yesterday approved a $2.6 billion budget for next year that relies on federal aid to fund capital projects amid the ongoing drought in new state borrowing.

The RTA spending plan includes a $1.3 billion budget for the Chicago Transit Authority, a $600 million budget for Metra commuter rail, a $200 million spending plan for Pace suburban bus service, and $100 million for disabled services, said chief financial officer Joseph Costello. The agency will receive $400 million in federal capital aid to distribute to the three boards.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.