"Hopefully we don't have to do any of this, but we absolutely have to balance the budget. We have a structural deficit of $350 to $400 million, and that requires significant cuts to fill if no new revenue comes in."
"If the measure fails, we won't use the loan because we can't pay it back."
The BART board of directors voted 8-1 to approve a contingency plan for potential service cuts if the agency fails to secure additional funding. The plan includes closing up to 15 stations, reducing train service, and laying off approximately 1,200 employees. BART faces a structural deficit of $350 to $400 million that requires significant budget cuts without new revenue. Governor Newsom recently signed legislation authorizing a $590 million emergency loan for Bay Area transit agencies including BART, though this loan would only be utilized if a potential November ballot tax measure passes. If the measure fails, BART cannot use the loan due to repayment concerns.
Read at ABC7 San Francisco
Unable to calculate read time
Collection
[
|
...
]