The Regional Transportation Authority will cut internal spending in its $36.7 million budget by 12% and work with its transit service boards —  the Chicago Transit Authority, Pace suburban bus service and Metra commuter rail —  to reduce costs due to revised revenue estimates that were lowered by $61 million.

“The RTA’s responsibility in coordinating and managing the finances of the transit agencies has never been more critical than today as we confront the impact of this historic economic crisis,” board chairman Jim Reilly said in a statement.

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