Overview

• California’s Department of Finance told negotiators it would not finalize loan terms before the legislative session, with Tuesday marking the cutoff for publishing bill language.
• Elected officials and labor groups rallied in San Francisco to press for the funding, while Newsom said he is working on a deal with a goal to agree by fall and local leaders plan meetings with him this week.
• SFMTA projects a $307 million deficit next year, Muni’s shortfall is about $322 million, and AC Transit faces roughly $35 million.
• BART has outlined potential reductions such as ending service at 9 p.m., running trains every 30 minutes and cutting some lines, and Muni has warned of steep cuts without relief.
• Lawmakers describe the loan as stopgap funding to keep service running until a 2026 regional ballot measure could begin delivering operating revenue in 2027.