Is a CTA bailout necessary???
That's the question I've been asking all along. But now, it looks like the issue will be studied (From the Sun-Times:
State leaders are ordering the CTA to open its books for a budget review while lawmakers consider a transit bailout, the Chicago Sun-Times has learned.
Illinois Transportation Secretary Tim Martin called for the independent audit to make sure the CTA really is $55 million in the red -- not just crying poor while threatening fare hikes and service cuts.
Metra and Pace will undergo similar audits, but much of the state's focus is on the CTA as that agency prepares for a July 17 doomsday scenario.
"Right now, it's a matter of going in and looking at detailed [budget] numbers and try to find out how [the CTA] arrived at that $55 million figure," Illinois Department of Transportation spokesman Matt Vanover said.