U.S. public transit agencies haven’t yet seen the bottom of a pandemic-induced fiscal crisis.
S&P Global Ratings dropped Bay Area Rapid Transit’s (BART) credit rating two notches last week. The new credit rating of A+ will make it more expensive for BART to borrow money—all while facing an increasingly dire fiscal cliff.
An article by Skylar Woodhouse for Bloomberg explains that BART might not be the only transit agency facing credit rating adjustments. BART is” one of several public-transit agencies put on notice by S&P, including the San Francisco Municipal Transportation Agency and DC’s Washington Metropolitan Area Transit Authority,” according to Woodhouse.
“New debt sales by public transit systems are already depressed. Municipal-bond issuance for mass transportation totaled about $4.3 billion this year, down about 44% from the same period in 2022 and the lowest since 2018, according to Refinitiv data as of May 25,” adds Woodhouse.
The fiscal plight of BART and public transit more generally was also the subject of an on-air segment on WBUR’s Here and Now.
[Update: news broke late last night that California Governor Gavin Newsom and Democratic legislative leaders had stuck a deal to prevent service cuts on BART and other transit systems in the state. More coverage of that news to come.]
FULL STORY: US Public Transit Systems Face Credit Downgrades as Riders Stay Away
Breaking: Budget Deal Saves California’s Transit Systems, For Now
California state political leaders last night struck a deal to keep the state’s transit systems afloat as ridership continues to recover and federal pandemic stimulus money runs dry.
Opinion: Free Fares Won’t Solve the Transit Crisis
“The biggest US transit agencies must be allowed to simply focus on delivering high-quality service. There is no Plan B.”
The Deepening Transit Crisis: L.A. Times Reports Drug Use on Transit
An article by the L.A. Times earlier this week has raised the temperature of the debate about drug users and crime on rail transit. Concerns about public safety on transit are a common symptom of post-pandemic transit around the country.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions