The agency proposed fare hikes and service cuts to close a $240 million annual deficit earlier this week.
That means an overhaul known as the Bus Revolution, announced in the spring, will be put on hold.
The postponement comes after years of planning and community debate.
The initiative was finally approved back in May and was supposed to start in June 2025.
Major SEPTA fare hikes, service cuts proposed
SEPTA says there could be major fare hikes and a dramatic cut in service next year as it approaches what the agency calls a "fiscal cliff."
SEPTA proposes major fare hikes and cuts in service as it faces budget shortfall
If the proposals are approved, riders would pay anywhere from an additional $.40 for bus and metro and up to $2.25 more per ride on Regional Rail.
SEPTA is also proposing a 20% reduction in service in an effort to save money.
SEPTA strike threat and leadership change
All of this comes as SEPTA remains in contract negotiations with TWU Local 234. Union members have authorized a strike, but have not walked off the job as talks continue.
Bus, trolley and subway operators in Philadelphia have been working without a contract since last Thursday.
Wage increases remain a sticking point but SEPTA has said the budget constraints has impacted negotiations.
Meanwhile, SEPTA CEO and General Manager Leslie Richards will be stepping down on Nov. 29.