Portland’s TriMet approves leaner, $1.96B transit budget for FY2026

The Tri-County Metropolitan Transportation District (TriMet) in Oregon has adopted a $1.96 billion budget for Fiscal Year (FY) 2026. The budget prioritizes the bus, MAX light rail, WES commuter rail and LIFTT paratransit services.

The adopted budget reflects significant cuts compared to previous years in anticipation of a projected $50.2 million deficit next year. The cuts will primarily impact discretionary spending, affecting most divisions with 2 to 3% in reduced spending. The agency will continue to identify solutions to further trim costs and to manage future shortfalls.

Out of the nearly $2 billion budget, TriMet has allocated:

• Just over $1 billion for contingency, debt service, fund balance and other non-operating requirements and post-employment benefits.
• $552.6 million for operations.
• $236.6 million for general and administrative costs.
• $165.3 million for the Capital Improvement Program (CIP).

Capital improvement spending is significantly lower compared to previous years and ultimately will receive $55.8 million less than the originally approved FY 2026 budget. The decrease comes in the wake of ongoing inflation and rising costs associated with maintaining an effective, well-run transportation network.

The TriMet system has been running public transit for 55 years, making it one of the oldest in the nation. The aging system needs increasing investments to keep it in a state of good repair for maintenance and operations. To that end, the agency is planning to invest around $1.5 billion over the next five years into CIP projects and initiatives.

TriMet highlighted four expansion projects in the budget as major investments for the coming year. These include:

• A project to improve the Tualatin Valley Highway, enhancing transit and safety. The initiative will address high crash rates, heavy Line 57 ridership, poor stop conditions and slow bus travel times.
• A plan to improve the transit network on 82nd Avenue by creating a high-ridership bus line as part of the agency’s Frequent Express bus line.
• Expanding Portland’s streetcar network to Montgomery Park. The project will provide better transit access in the northwest Portland area.
• Replacing the Interstate 5 bridge with modern, seismically resilient multimodal structures. The project will extend the MAX Yellow Line by nearly two miles into downtown Vancouver, rebuild the Expo Center station and add three new stations. TriMet may also buy seven new light-rail vehicles and expand facilities at Ruby Junction.

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