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Well, the Feds did it!

Well, the Feds did it! They can revel in the image of the cavalry, riding to the rescue. Federal Transport Minister David Collenette is set to announce an immediate $62 million cash infusion for the TTC, followed by another $14 million later this year. It may be a one-time payment, but the TTC’s not looking this gift horse in the mouth… at least, not right now. You can read all about it here.

No word yet on whether these funds will enable the TTC to avoid a fare increase and service cuts this year and next. The TTC has a plan of foisting some of its capital costs, currently paid for as operating expenses, onto the City’s capital budget, where it could be paid for out of the Fed’s infusion. The matter will be decided next week.

The federal government and Queen’s Park continue to dance around each other. The Feds’ infusion of $62 million specifically matches the province’s $62 million infusion a couple of months beforehand. The additional $14 million will come after the province passes over its $14 million later this year. The TTC and the City of Toronto end up suffering while this game goes on.

It makes you want to shout: sign your bloody name and step away from the chequebook!