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Public Transit’s Post-pandemic Fiscal Challenges
Published Web Location
https://doi.org/10.17610/T6MW3RAbstract
The COVID-19 pandemic and its aftermath have caused significant financial uncertainty and distress for most transit operators in California (and, indeed, nationwide). Emergency measures taken early on to protect drivers and passengers meant increased operating costs at the same time that ridership and revenues — especially from fares — plummeted. In the face of this crisis, the federal government provided transit agencies with unprecedented operating support through three pandemic stimulus bills, which proved essential in filling budgetary gaps, stabilizing finances, preventing layoffs, and maintaining service. Other transit subsidies such as local option sales taxes (LOSTs) bounced back robustly after an initial decline.