Starved for new capital funding, the Regional Transportation Authority last week praised the Illinois General Assembly's passage and Gov. Pat Quinn's signing of a $9 billion capital program that provides $900 million for public transit.

"Before the governor and General Assembly took action yesterday, the state had not invested any capital dollars in transit in nearly five years," RTA executive director Steve Schlickman said in a statement Friday. "This is a great jump-start on our most pressing needs, but we have a lot of catching up to do. We need an ongoing state capital plan to address the significant needs of the system."

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.