CHICAGO (CBS) — Chicago transit riders will get a break next year as the Chicago Transit Authority said Friday that it will not raise fares or cut service.

The CTA issued its $1.38 billion budget for 2014, which the agency says is balanced. Also Friday, Metra released its budget and also does not plan fare hikes or service cuts.

READ MORE: Southbound Lanes Of I-290 Shut Down After Fatal Crash

CTA plans several big capital projects next year as well.

It plans to renovate the 95th Street Red Line South terminal.

READ MORE: Five Cook County COVID-19 Mass Vaccination Sites To Expand Hours In Preparation For Authorization For Children 12 To 15

The south portion of the Red Line was totally rebuilt in 2013, from 95th to Chinatown.

Many of the station’s received upgrades, but CTA plans a larger rebuild of the 95th street station next year.

The Wilson/Uptown station on the north branch of the Red Line will also get a makeover.

MORE NEWS: Ravinia Festival Announces Lineup For 2021 Season

CTA also plans to take delivery of 130 new buses and 240 new rail cars.