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Task force identifies near-term fiscal cliff for transit and opens debate on new revenue options
Summary
CalSTA staff estimated California transit agencies received roughly $12.5 billion in FY22-23 and warned operating costs could double by 2035 under current trends; members prioritized identifying new recurring operating revenue (payroll tax, congestion pricing, value capture/TIF, cap-and-trade reallocations) while cautioning against unfunded reallocation of local funds.
Caltrans staff presented an early fiscal accounting to the task force showing that California transit agencies received an estimated $12.5 billion in fiscal year 2022-2023 from federal, state and local sources. Hunter Owens said staff's illustrative modeling shows that, if cost trends continue, average operating costs could more than double by 2035 and capital needs could rise sharply, creating a near-term fiscal cliff for agencies that threatens service levels.
The meeting's funding discussion produced wide-ranging…
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