SPRINGFIELD, Ill. - Illinois lawmakers approved a $1.5 billion public transit funding package early Friday, averting a looming "fiscal cliff" that threatened service for CTA, Metra and Pace riders.

What we know:

The measure instead redirects revenue from motor fuel sales taxes and the state’s Road Fund, along with a new sales tax increase in the Chicago region, to address looming budget gaps for the CTA, Metra, and Pace.

By the numbers:

The House passed the bill 72-33 early Friday, followed by a 36-21 Senate vote. The plan aims to close a projected $937 million transit deficit by 2028 and prevent service cuts of up to 40%.

Roughly $860 million will come from redirecting existing fuel tax revenue, $200 million from Road Fund interest, and $478 million from a quarter-percent regional

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