In fact, new CEO George Grenias says the old budget of $1.34 billion will be slashed to just $955 million, which is 31 percent. The reason for the cuts is a delay in a $600 million rail construction grant.
Grenias is promising riders that this won't come out of their pockets but out of things like office supplies and perks for METRO executives. What he is most emphatic about is that this won't include any service cuts or fare hikes, at least for now.
"Right now the goal is, number one, to protect our services," said Grenias. "To promote renew our commitment to transit services to our customers that includes no fare increases in the next fiscal year."
The board adopts the new budget on Tuesday.