Metra on Wednesday took the first official step toward overhauling its fare structure.
The changes are part of Metra's $1.1 billion budget for 2024, which was introduced at a board meeting Wednesday. Metra's Board of Directors will vote on the changes in November.Metra is also seeking to end promotional $6 and $10 day passes and a $100 monthly pass introduced after the COVID-19 pandemic to attract riders. The 10-ride ticket will be replaced with a "Day Pass 5-Pack," available only on the Ventra app.RELATED: State, local leaders pitch $1.
Metra's budget expects ridership to increase next year from 47% to 54% of pre-pandemic levels. Metra expects $243 million in ticket sales then. The rest of the budget will be covered by $560 million in regional sales taxes and $223 million in federal COVID-relief funding. Metra's deficits over the past couple of years have been offset by millions in federal COVID-relief money. But that funding expires at the end of 2025 when Metra and other regional transit agencies are predicting a "fiscal cliff."
The Chicago Metropolitan Agency for Planning has been tasked by the state with generating a set of sweeping changes to help transit agencies survive. The agency, which will submit its suggestions to Gov. J.B. Pritzker by Jan. 1, is considering suggesting rate hikes, increasing the sales tax, and combining regional transit agencies into one entity so tickets can be used across them.
The Chicago Transit Authority, Metra and Pace are predicted to have a combined $730 million budget gap in 2025 once pandemic federal relief ends.
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