The Biden administration has committed over $700 million to the massive project which will bring rail to the Far South Side of the city.

The federal government will contribute an additional $414 million to Chicago’s Red Line extension project, putting the total federal contribution at $764 million, reports Todd Feurer for CBS News.
“The CTA's $3.6 billion project would extend Red Line service 5.6 miles south, from its current terminal at 95th Street to 103th Street. It would also add four new proposed Red Line stops south of 95th Street: 103rd Street and 111th Street near Eggleston Avenue, Michigan Avenue near 116th Street, and 130th Street near the Bishop Ford Freeway.” Feurer notes that it would be the largest project in CTA history.
The extension will bring a new transit option to the Far South Side and reduce commute times by as much as 30 minutes each way. The project is slated for completion in 2029.
FULL STORY: Feds more than double funding for first year of Red Line Extension project

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