"Gov. Gavin Newsom said earlier this month that $750 million in state loans to Bay Area transit agencies will be finalized before the end of the legislative session, after a deal reached in June to create the funding looked to be breaking down. BART, San Francisco Municipal Transportation Agency, Alameda-Contra Costa Transit and Caltrain were all banking on the money after a budget agreement in June indicated the money would be made available in time to hold off impending cuts."
""Transit is a lifeline to millions of Californians - and after billions in state investment, we're continuing to back Bay Area agencies with ongoing support tailored to their needs," Newsom said in a statement. "We'll keep partnering with them now and into next year - aligning flexible financing tools to their timelines - so we can deliver a sustainable, rider-first transit system together.""
Gov. Gavin Newsom said $750 million in state loans to Bay Area transit agencies will be finalized before the end of the legislative session to prevent service reductions. BART, the San Francisco Municipal Transportation Agency, AC Transit and Caltrain had been relying on the funding after a June budget agreement. Ridership declines since the COVID-19 pandemic devastated agency budgets, and state Sens. Scott Wiener and Jesse Arreguin pushed for the loan as a short-term bridge until a regional ballot measure in November 2026 could provide funding starting in 2027. The state Department of Finance initially said it would not finalize the loan, but Newsom later said a deal had been reached. AC Transit used reserves to cover a $41.5 million gap and faces a roughly $72 million shortfall next year and a four-year $238 million deficit.
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