Facing a $213 million funding gap in next year's budget, SEPTA on Thursday announced the potential for major 45% service cuts and fare hikes that would take effect without an increase in funding from the Commonwealth of Pennsylvania.

If the transit agency does not secure additional funding, a first round of severe cuts, mainly targeting the city’s robust bus service, will go into effect Aug. 24, followed by a fare increase in September.

Beginning Aug. 24, dozens of bus routes could be eliminated or shortened if the transit authority doesn't receive more funding. Regional Rail, subway and buses would all run less frequently, too.