U.S. transit agencies are hemorrhaging money as the majority of riders avoid trains and buses. People still need public transit, and public transit needs help to weather the storm.
"The American Public Transportation Association (APTA) is urging Congress to provide an additional $23.8 billion in emergency funds to support public transit across the country," reports Cailin Crowe.
The $2 trillion CARES Act, approved by Congress in late March, included $25 billion in funding for beleaguered transit agencies, but transit agencies are still in need as ridership revenues stay at historic lows into the third month of the public health crisis. The advocacy and think tank organization TransitCenter spent much of April raising awareness about the inadequacy of the initial federal support for public transit.
In March, TransitCenter estimated the potential budget shortfall for U.S. public transit agencies somewhere between $26 billion and $40 billion every year that the coronavirus devastates public transit ridership in the country. An independent economic analysis by EBP US, Inc. produced the $23.8 billion figure used in the APTA's lobbying efforts.
FULL STORY: APTA seeks extra $24B to support agencies 'hemorrhaging money'
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