BART has a bad budget situation

May 14, 2009 8:41:50 PM PDT
BART got an idea as to just how bad its budget situation is.

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A new report says ridership is down for the first time since 2005, while sales tax revenue is at its second worst rate in BART's history. BART isn't expecting things to get better soon. Projections show the fourth quarter will be even worse.

"Well if you don't have a job, and you don't ride, you don't spend. And those are our two biggest sources of income, sales taxes and ridership. So both of those are huge sources of revenue comprised of 80 percent of our revenue, and they're just taking a nose dive," says BART spokesman Linton Johnson.

Johnson says the agency is now considering several options to raise money and cut costs, including fare hikes, as well as having employees pay part of their benefits.

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