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Gov. Newsom Announces New Funding for Bay Area Public Transit
The $590 million state loan will prevent cuts to services used by over three million monthly riders as agencies await a regional sales tax vote for long-term funding.
- On Thursday, Gov. Gavin Newsom signed legislation in Colma authorizing a $590 million bridge loan to the Metropolitan Transportation Commission to support Bay Area transit agencies.
- After ridership fell post-pandemic, regional leaders say BART and other agencies face large 2026 deficits due to lower fares and parking revenue, prompting an alternative service plan earlier this month.
- Structurally, the state is routing funds through the Metropolitan Transportation Commission, which will disburse a $590 million loan over 12 years, with the first two interest-free, to four Bay Area transit operators.
- The injection immediately gives BART funding to address its $400 million deficit, though BART will tap the loan only if voters approve the funding measure; Newsom said `This agreement will help protect transit service for more than three million monthly riders.`
- Longer term, the region is relying on SB 63 on the 2026 ballot, which supporters say would generate about $980 million annually across five Bay Area counties, while the $590 million loan falls $160 million short of the $750 million earlier proposal.
13 Articles
13 Articles
California lending $590 million to keep Bay Area Rapid Transit running
With one-time federal aid largely exhausted, several operators are staring at budget holes large enough to force deep service cuts — a scenario local officials say would push more commuters onto roads and undercut the region’s economic rebound.
$590M In State Loan Funds Come Through For Struggling BART and Muni Systems
It's a bit less than what was promised last year, but Governor Gavin Newsom has signed off on a $590 million loan package for Bay Area transit agencies, which have been facing serious budget problems since the pandemic.Ridership is not back nearly where it was, and BART continues to grapple with potential station closures and service cuts as a result of the revenue blow. But the state has come through with a $590 million loan fund that BART says…
Newsom signs $590 million loan to help Bay Area transit
DALY CITY, Calif (KRON) -- Gov. Gavin Newsom signed a bill Thursday providing a $590 million loan to stabilize cash-strapped Bay Area transit agencies. The signing took place at the BART Daly City maintenance yard to address the "fiscal cliff" facing regional transportation systems. The legislation serves as a bridge loan intended to prevent drastic service cuts for agencies such as BART and MUNI. The funding aims to maintain essential transit o…
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