SFMTA approves two-year budget with fare hikes, cuts to balance deficit

The San Francisco Municipal Transportation Agency Board of Directors unanimously approved the agency’s operating and capital budgets for fiscal years 2026-2027 and 2027-2028 this week, a move that includes cutting vacant positions, raising parking fees, and increasing cable car fares.

The SFMTA board on Tuesday approved a two-year operation budget totaling more than $3.1 billion and a capital projects budget of $1.2 billion, with each plan hinging on the passage of two local tax measures that would generate new sources of income.