CHICAGO (AP) -- Chicago Transit Authority officials say a report from the state's top auditor backs up what they've been saying all along: More money is needed for mass transit.
The financial condition of the Chicago area's mass transit systems is so poor that not even doubling fares would bail them out. That's the conclusion today from state Auditor General William Holland.
Holland doesn't advocate doubling fares, but it helps to illustrate the financial straits the agencies are in.
Holland said the C-T-A, Metra and Pace lack the revenue to cover current operations and replace an aging fleet of buses and rail cars.
Holland suggested lawmakers review the funding formula that relies on sales tax and look at ways to better organize the agencies and the Regional Transportation Authority that oversees them.
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