Crypto News: US mass transit faces a 'death spiral'

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: A $6 Billion Shortfall Has US Mass Transit Facing a Death Spiral

— Rthvika Suvarna

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