Federal legislation that would bar mass-transit projects from getting gasoline tax revenue is “financially perilous” to Chicago’s public transit system, state and local transportation officials say.

The measure would jeopardize about $450 million worth of capital projects annually, including Metra’s purchase of new cars for the Electric District line and the UP North bridge-rebuilding project, Regional Transportation Authority Executive Director Joe Costello said.

The bill approved Friday by a U.S. House committee would cut off a reliable stream of federal funding for these long-term, big-ticket projects, Costello said.

“You need to be able to rely on that funding. (The bill) throws all that out the window,” Costello said.

Read more at the Chicago Tribune.