Citing ’catastrophic collapse’ of economy, Mayor Lori Lightfoot says Chicago faces $1.2 billion shortfall in 2021 ’pandemic budget’
Citing the “catastrophic collapse of our local and national economy” because of COVID-19 and damage to local businesses from civil unrest, Mayor Lori Lightfoot on Monday laid out a $1.2 billion shortfall for what she called Chicago’s “pandemic budget” in 2021.
Filling the historic deficit will likely require personnel cuts and could lead to layoffs, and the mayor promised to use a TIF surplus and consider a computer lease tax as other potential measures. Lightfoot made no mention of a possible property tax hike in her remarks.
Asked afterward for specifics about cuts or taxes, Lightfoot said that “all options are on the table,” though property taxes and job cuts are at the back of her list.
“The reality is that life will be different for the foreseeable future, impacting how services are provided and how departments are structured, and we must adjust to meet that reality,” Lightfoot said in an afternoon speech at the Cultural Center.
“A very difficult part of reimagining government will also include looking to our workforce, and making needed changes in places that are not being fully utilized during the remainder of this crisis and in our post-COVID-19 world,” she said.
Lightfoot largely avoided discussion about the city’s rising pension costs, aside from calling for state lawmakers to work together and solve the problem. But alluding to the issue, Lightfoot pushed back against Republican critics who say the federal government shouldn’t help blue cities and states such as Chicago and Illinois because their budget woes are “a result of years of mismanagement.”
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Agree here!
Thanks to Lightfoot, we are selling our Chicago condo. There is nothing to do in Chicago anymore without fear.
And it was always such a beautiful city! Buckingham Fountain was one of my favorites!
I can't believe the ignorance of these democrat leaders.
Believe it!
What, no raining day fund in Chicago. Even squirrels know to stockpile assets for when times aren't so robust.
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Squirrels are not greedy and wasteful.
Part of the oligarh's globalist agenda is to collapse the global economy. They want to kill free enterprise/capitalism so they can change the economic system.
So true Bonnie
She is just another typical Dem gov another tax and spend maniac. Blame others that is their motto.
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