KCRag Forum

DaveKCMO wrote: ↑Sun Mar 29, 2020 1:05 pm The entire region's transit system became free-to-ride on March 22, driven by COVID-19 and the need to protect bus operators.

Anthony_Hugo98 wrote: ↑Mon Apr 27, 2020 7:39 am

DaveKCMO wrote: ↑Sun Mar 29, 2020 1:05 pm The entire region's transit system became free-to-ride on March 22, driven by COVID-19 and the need to protect bus operators.

Haven’t been back in a while so forgive the question, but when you say region, does that include JOCO as well? And if so would that be sustained following or not?

FangKC wrote: ↑Tue Apr 28, 2020 9:12 pm The ridership may increase after things calm down again since there is a huge bubble in car financing right now that will likely burst. The number of people barely able to make their car payments is already high, and with all the unemployment, there will likely be a lot of repossessions. This will likely lead to more people taking the bus.

shinatoo wrote: ↑Wed Apr 29, 2020 8:52 am I had to take personal finance in HS, and so did my son. Raytown, Lees Summit.

Normally, most lenders will report a late payment to the credit bureaus once it's at least 30 days overdue, and most will come to take your vehicle away after you've missed three or more payments in a row.

Now, the situation has changed. In response to the pandemic, some states have proposed legislation to limit or postpone vehicle repossessions, but other areas have no such measures on the table. In New York, for example, the state assembly is debating a bill that would stop all car loan payments for 90 days.

The auto repossession industry itself hasn't agreed whether repo companies, many of whom are now laying off dozens of employees, are even allowed to operate in areas under strict shelter-in-place orders. The Association of Credit and Collection Professionals, a lobbying group for debt collectors, argues that debt collection is an essential service, but lawmakers have yet to chime in.

shinatoo wrote: ↑Wed Apr 29, 2020 11:50 am Should be mandatory in college too, but then they would have to teach the wisdom/folly of student loans and college degrees.

DaveKCMO wrote: ↑Wed Apr 29, 2020 4:58 pm
Separate from demand, there will need to be enough revenue to cover operations and the loss of fare revenue. It's possible that the sales taxes that support transit will take a 30% hit in the post-COVID economy.

Anthony_Hugo98 wrote: ↑Thu Apr 30, 2020 11:09 pm

DaveKCMO wrote: ↑Wed Apr 29, 2020 4:58 pm
Separate from demand, there will need to be enough revenue to cover operations and the loss of fare revenue. It's possible that the sales taxes that support transit will take a 30% hit in the post-COVID economy.

What’s the likelyhood they could pull a funding stream from elsewhere to cover the loss?

flyingember wrote: ↑Fri May 01, 2020 9:23 am Who's "they?" The federal government, the state of Missouri, the state of Kansas, Kansas City, Jackson County, Johnson County, a supporting city like Gladstone or Liberty, or the ATA accounting dept?