Latest news with #SriTaylor
Bloomberg
19 hours ago
- Business
- Bloomberg
Philadelphia Transit Braces for Sweeping Service Cuts
Philadelphia commuters are set to lose dozens of bus routes, rail stations and five rail lines starting August 24, after the city's transit agency SEPTA voted on Thursday to approve a 2026 budget that slashes services by 45%. The budget will also raise fares by 21.5% as officials continue to press the state for help addressing a $213 million operating deficit. Since the Covid pandemic, mass transit across the US — faced with a collective $6 billion shortfall — has been hurtling toward a ' death spiral,' in which sweeping cuts decimate ridership, leading to declining revenues and further service reductions. Few systems are under more financial pressure than SEPTA, whose officials warn that the repercussions 'will be almost impossible to reverse,' and are likely to affect people well beyond the city, Sri Taylor reports. Today on CityLab: Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares
Bloomberg
19-05-2025
- Entertainment
- Bloomberg
NJ Transit Strike Ends After Agency, Engineers Make Deal
After prolonged wage negotiations, New Jersey Transit and train engineers reached an agreement on Sunday evening — but not before triggering a transit strike that paralyzed travel between New Jersey and New York City. Hundreds of engineers walked off the job in the early hours of Friday, shutting down all 12 commuter rail lines and forcing hundreds of thousands of commuters to cram into buses, PATH trains, ferries and other modes of transport. Shakira fans were left fuming as they faced gridlock, surge pricing on rideshares and pickup delays after leaving the popstar's concerts last week. The pact ends the first railroad strike for the transit system in more than 40 years. Service is scheduled to resume on Tuesday, Sri Taylor reports. Today on CityLab:
Bloomberg
16-05-2025
- Bloomberg
New Jersey Transit Strike: What to Know
New Jersey Transit engineers went on strike May 16, shutting down all commuter rail lines and throwing travel into chaos for thousands. Now riders are scrambling for other ways to get to NYC. Sri Taylor explains. (Source: Bloomberg)
Bloomberg
02-05-2025
- Politics
- Bloomberg
Big Take: US Mass Transit Is Facing a Funding Crisis
At the height of the Covid-19 pandemic, the US government stepped in with aid to keep mass transit agencies afloat. But that money is running out and ridership hasn't rebounded. On today's Big Take podcast, Bloomberg's Sri Taylor and Aaron Gordon join host David Gura to discuss why advocates now fear many transit systems are on the verge of a so-called 'death spiral' — a vicious cycle of less funding, low ridership and cuts to services that could impact everyone's commute.
Bloomberg
30-04-2025
- Business
- Bloomberg
US Mass Transit Faces a $6 Billion Deficit
The largest mass transit systems in the US are facing a collective $6 billion deficit for years to come, according to a Bloomberg analysis, as federal pandemic aid dries up and ridership struggles to return to pre-Covid levels. Transportation agencies in cities from New York to Chicago to San Francisco are warning of service cuts and fare hikes, as well as layoffs — steps advocates say could decimate ridership and lead to a 'death spiral' for US mass transit. In Philadelphia, for example, the Southeastern Pennsylvania Transportation Authority is headed towards a structural deficit of $213 million. Its proposed 2026 budget could slash service by 45% while also hiking fares by 21.5%. But there is no immediate solution in sight, and the federal government is unlikely to step in with a lifeline as the Trump administration reins in spending, Sri Taylor and Aaron Gordon report. Today on CityLab:
