Gov. Newsom approves $750M loan for Bay Area public transit

SAN FRANCISCO (KGO) -- Governor Gavin Newsom announced a plan on Wednesday to rescue BART, Muni, Caltrain and other Bay Area transit.

A $750 million loan for the struggling public transit systems in the Bay Area was still in limbo earlier this week.

But on Wednesday, Newsom's office announced the short-term funding will move ahead.

RELATED: SF rally held to save Bay Area public transit funding as agencies face huge deficit

Without this stopgap measure, the transit systems would have faced extensive service cuts to make up for deficits that have been growing since the pandemic.

The loan will help keep them afloat until 2027, when funding from a proposed 2026 ballot tax measure would kick in, as long as its approved by voters.