With a new fiscal year on the horizon, SEPTA, on Thursday, released its $2.7 billion budget plan for 2027. As detailed by SEPTA officials, the plan includes a $1.84 billion operating budget and an $920.7 million capitol budget. The plan does not include an increase in fares or service cuts in the coming year. “By using the resources we receive even more efficiently, we continue to do more with less and reinforce our commitment to being good stewards of taxpayer dollars,” said SEPTA General Manager Scott Sauer in a statement released Thursday. “With stable, dedicated funding, SEPTA can transform into a modern, best-in class transit system that strengthens communities, supports the economy, and keeps southeastern Pennsylvania moving.” Still, officials said, the proposed budget would be an increase of just 1.9% over SEPTA’s current budget. Also, SEPTA has cut its structural budget deficit from $213 million to $192 million after saving about $30 million through increased income from parking fees, advertising and other investments, officials said. The proposal also includes the second year of an annual capitol funds transfer that Pennsylvania Governor Josh Shapiro championed last year. Yet, SEPTA officials said, the mass transit provider is still seeking a long-term funding solution. Through this funding, SEPTA said it hopes to purchase new buses, launch a retooled “Bus Revolution” effort, install additional full-length fare gates across its transit system, and further investments into replacing trolley cars, cars along the Market-Frankford Line and its aging fleet of Regional Rail cars. Officials said the capitol budget piece of the proposal is part of a 12-year, $16.3 billion effort that dedicates $7.7 billion to fleet replacement for the train and trolley cars. The 12-year effort also includes a plan to borrow $4.3 billion, officials said. Still, SEPTA said, the program would not enable SEPTA to fully fund replacement cars for the Broad Street Line, even though those cars are approaching 50 years old. SEPTA will offer the public several opportunities for hearings on the proposed budget before it is presented to the mass transit provider’s board in June. Upcoming public hearings There will be four public hearings about the Operating Budget: May 11, 2026, at 11 a.m. and 7 p.m. May 12, 2026, at 10 a.m. and 4 p.m. There will be two public hearings about the Capital Budget: May 13, 2026, at 11 a.m. and 7 p.m. Officials said the hearings will be held at SEPTA’s headquarters as well as virtually. Get more details here. A full proposed budget was not released as of about 11:15 a.m. on Thursday. But, when it is available, it will be here. If SEPTA’s board approves the budget, it will go into effect with the start of Fiscal Year 2027 on July 1, 2026. This story uses functionality that may not work in our app. Click here to open the story in your web browser. ...read more read less