CTA president warns about transit deal

CTA President Ron Huberman warns that the state-approved mass transit deal will not work unless Chicago aldermen increase the city's real estate transfer tax.

> "We are right back to doomsday if this doesn't pass City Council," Huberman told ABC7 Chicago.

The CTA is to receive 100 million dollars from the Chicago real estate transfer tax increase. That hike is about $3 per $1,000 of the property's sales price.

Huberman urges alderman to reject a proposal to exempt senior citizens from the tax.

"If we now reduce the revenue coming in by altering the real estate transfer tax, it begins to put the whole thing at risk. And so, we need to look at that very, very carefully," he said.

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