Understanding the Real Economics of Transit with Tri-Rail Finance Director, Jeremy Baker

Join hosts Levi McCollum and Christian Londono as they sit down with Jeremy Baker, Director of Finance at the South Florida Regional Transportation Authority (SFRTA), for an eye-opening conversation about the financial realities facing public transit today. Recorded live from Transport Ticketing North America 2025 in Chicago, Jeremy breaks down the key funding mechanisms that keep transit systems running—from property taxes to sales taxes to farebox recovery. He tackles the common misconception that transit should "pay for itself" like private companies, explains the differences between public agencies and private rail operators like Brightline, and discusses the looming "fiscal cliff" threatening agencies nationwide. With experience at both Palm Tran and SFRTA, Jeremy offers unique insights into the differences between bus and rail operations, the politics of transit funding, and why cutting service creates a dangerous downward spiral. He also previews his upcoming conference presentation on fare collection project challenges and shares advice for transit professionals navigating these turbulent financial times.