CHICAGO — The CTA's proposed 2017 budget does not include any fare hikes or service cuts, the agency said Monday.
The $1.5 billion budget also calls for spending millions to modernize the CTA's operations, the agency said in a news release.
If the budget is approved, it would be the eighth consecutive year that base fares for the CTA have remained unchanged, the agency said. To freeze customer fares, the agency has reduced spending on maintenance by modernizing its fleet and has seen savings in fuel costs and management efficiencies, the agency said.
The modernized fleet is partially because of an initiative to upgrade CTA buses and trains, the agency said. Mayor Rahm Emanuel's administration has spent $5 billion on CTA improvements since 2011, the agency said.
The 2017 budget includes a $3.5 billion, five-year capital budget aimed at modernization, Emanuel said.
"CTA's responsible budget will continue to create a 21st century transit system by focusing our efforts on enhancing service to riders while continuing the historic level of investment in modernization of our transit system," Emanuel said in a statement. "Investing in CTA and its customers and our residents by connecting people with jobs, education and opportunity.
Some of the modernization projects already underway include upgrades to the Red Line, a new Belmont Blue Line station and a new 95th Street Red Line station. Four CTA stations will receive new artwork as well.
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