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Newsom Promises Hundreds of Millions in Short-Term Aid for Bay Area Transit

Talks over a previously signaled $750 million bridge loan continue into January under budget language extending the review.

A BART train leaves the Walnut Creek station as snow covers Mount Diablo in 2023. The transit agency is among those in the Bay Area that would receive operational funds as part of a $750 million state loan for regional transit.
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Caltrain's new electric train, which was on display for the public at Caltrain's 160th Anniversary Celebration at the San Carlos station. May 11, 2024. Photo by Anna Hoch-Kenney.
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Overview

  • California’s Department of Finance and CalSTA will work with Bay Area agencies to design structured loans or other short-term financing tools.
  • The governor’s office said support would come with repayment plans and fiscal reform expectations intended to protect service and strengthen stability.
  • The previously discussed $750 million bridge loan was not finalized before adjournment, and news outlets report it remains unclear how the new assistance will relate to that package.
  • Transit leaders warn of severe cuts without state help, with Sen. Scott Wiener cautioning that BART could effectively collapse and Muni could halve service.
  • SFMTA projects a $322 million gap, BART forecasts $375–$400 million annually from 2027, AC Transit faces a $72 million shortfall next year, and Caltrain estimates $75 million annual deficits as lawmakers pursue a 2026 regional sales-tax measure for longer-term funding.