CHICAGO (WLS) — Mayor Lori Lightfoot will deliver her budget address this week as the city faces a $1.2 billion deficit.
According to multiple published reports her budget will include a $94 million property tax increase. It will also include a gas tax increase.
The proposal also includes 350 employees losing their jobs with 1,000 vacant jobs being cut.
“This is probably going to be the most difficult budget in the city’s history,” said ABC7 Political Analyst Laura Washington. “There are no good answers here. There are no good options. It’s looking like she is going to have to insist on a tax increase, perhaps a small one. There is no way to get out of this budget crisis without a property tax increase.”
Mayor Lightfoot says Chicago can’t count on help from Washington and the city has to “fix it ourselves.”
The mayor is scheduled to deliver her budget address on Wednesday.
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October 19, 2020 at 06:01AM