TriMet Approves $2 Billion Budget to Ensure Future Stability

TriMet has adopted a $2 billion FY2026 budget to cut future deficits, boost financial reserves, and support major upgrades across Portland’s public transit network. This is reported by the railway transport news portal Railway Supply.

The new fiscal plan, effective July 1, allocates $789.1 million to operating expenses and $165.3 million to capital development. TriMet has also reserved $771 million in unappropriated funds to strengthen savings and long-term sustainability.

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Infrastructure and Vehicle Investments Drive TriMet Budget Priorities

TriMet will invest $552.5 million in transit operations and $236.6 million in administrative functions. An additional $1 billion will support debt service, contingency funds, and essential reserves for future needs.

The agency dedicated $25.2 million to upgrade platforms, improve facilities, and modernize light-rail infrastructure, including electrification and signaling. TriMet also allocated $66.1 million for replacing outdated light-rail vehicles.

Capital projects include extending the Portland Streetcar to Montgomery Park and replacing the aging Interstate Bridge to enhance multi-modal connectivity across the region.

TriMet Reduces Costs Ahead of 2027 Shortfall

To address a $50.2 million shortfall forecasted for FY2027, TriMet implemented 2%–3% spending cuts across most departments, saving $7.1 million. Other financial adjustments reduced the gap by an additional $17.1 million.

The agency’s forward-looking approach reflects growing concerns over the expiration of federal COVID-era funds and rising operational expenses. By acting now, TriMet aims to avoid major service disruptions in the coming years.

This FY2026 budget positions the agency to adapt and invest despite looming challenges. With disciplined cost control and a renewed focus on infrastructure, TriMet continues preparing for long-term service reliability.

Source: www.progressiverailroading.com

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