CTA reports $10M budge hole

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The CTA is $10 million dollars in the hole because officials grossly overestimated how much money the agency would take in from passes.

Passes went up by as much as 74 percent in January.

The biggest miscalculation involved 7 day passes.  Officials thought people would buy more, but riders have been “paying as they go” instead.

Another factor is ridership is down about 3-percent.

However, the transit agency is not expected to increase fares again or cut services anytime soon.

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