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The cuts could range from longer wait times between buses or trains for passengers to fewer hours of operation and even the scrapping of some bus routes, according to the transit agency's chief. However, these changes will not take effect until after a period of public notice and comment.
"The reasons for the cuts are larger-than-anticipated declines in sales tax receipts in the six-county region; the near-collapse of the real estate market, which resulted in a steep decline in Chicago real estate transfer taxes earmarked for the CTA; and a lag by the state in providing a 25 percent match for each dollar raised through the sales tax and real estate transfer tax, said Steve Schlickman, RTA executive director."