The CTA has postponed the suspension of service on 39 bus routes, fare increases and layoff of 600 employees scheduled to go into effect Sunday, November 4. Earlier today, Governor Blagojevich offered a grant of $21 million that would allow the agency to hold off planned actions needed to balance its 2007 budget. Following the Federal Transit Administration's approval of the transfer of funds, CTA officials announced that the agency will now be able to maintain its existing service and fare structure until the end of the year while the state legislature works to provide a long-term funding solution for transit. Without a sustainable funding source, the CTA will still face a significant budget shortfall for 2008 and will be forced to implement deeper service cuts, higher fare increases and more layoffs in early 2008.
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