Illinois House Democrats filed a bill Tuesday night to fund public transportation in the Chicago area.
Capitol News Illinois reports the CTA, Metra, and Pace will face budget shortfalls starting as early as next year, unless they get help from lawmakers. Sponsors say their proposal would raise between one and a half and two billion dollars in new revenue. It includes a tax on billionaires’ investment assets, a five-dollar surcharge for large events and a statewide tax on entertainment including streaming services and event tickets.
While some see it as a Chicago bailout, State Representative Kam Buckner says it’s Chicago area residents who will pay the most.. The legislation would also include 220 million dollars for downstate transit agencies. Lawmakers could vote on the bill sometime before the end of session on Thursday.
