The CTA plans to boost fares to as much as $2.25, eliminate the bonus for Chicago Card users and hike the price of a 30-day pass to $90 on Jan. 1 under a proposed 2009 budget announced today.
The biggest hit would be felt by Chicago Card and Chicago Card Plus customers, who according to a CTA analysis live in more affluent ZIP codes than riders who pay cash fares or use regular transit cards.
"Our Chicago Card customers are more elastic in their ability to absorb fare increases," said CTA President Ron Huberman.
He said the transit agency had no alternative except to raise fares next year in the face of rising fuel and electricity costs, mandated free rides for senior citizens and other groups and the loss of millions of dollars in state subsidies to offset the reduced fares that students and some disabled riders pay.
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