Measure R on the Los Angeles ballot would impose a 1/2 cent sales tax on county residents to pay for increased transit lines and services. This couldn't come at a more crucial time, as the MTA is poised to become a casualty of the financial crisis:
The next potential victims of the nation's credit crunch: nearly 1.5 million people who ride buses and trains each weekday in Los Angeles County. Transit officials say riders could soon be facing serious service cuts.
That's because the Los Angeles County Metropolitan Transportation Authority might have to quickly come up with hundreds of millions of dollars to pay investors under terms of deals it made involving American International Group, the troubled financial and insurance giant.
"I've lost a lot of sleep over this," said Terry Matsumoto, the chief financial service officer and treasurer for the MTA. He said it was "absolutely" certain the agency would have to cut service if the deals sour.
The state is already cutting transit funding in the budget, and sales tax revenues, which already partially fund the MTA, are seizing up, as the economy slows and job loss increases (fortunately unemployment flattened out in September, albeit at 7.7%).
This is not the time for cutbacks in service at the MTA. Ridership is at record highs, as people both avoid still-high gas prices (historically speaking) and more attention is paid individually to greenhouse gas emissions. The Air Resources Board just released their final draft for compliance with AB32, and I can't see how they could possibly reach their goals for greenhouse gas emission cuts without an increase in transit. That includes passing high-speed rail, of course, but obviously the existing transit structures, can't be pulled back at this important time.
Speaker Bass has been calling for the Governor to prioritize a federal stimulus package and has also been making noises about a state-based stimulus as well. That has to include protections for transit concerns like the MTA, and increased funding flowing to them as well. It's a job creation engine, an economic sustainability engine, and an engine to a better environment.
We can all do our part in Los Angeles County by passing Measure R as well. |
