Mayor Brandon Johnson Proposes $16.6B Spending Plan That Closes Budget Gap, Expands Mental Health Services wttw.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wttw.com Daily Mail and Mail on Sunday newspapers.
Chicago’s budget shortfall could skyrocket to $1.9 billion by 2026 if the economy takes a nosedive and even under the rosiest scenario, the gap between.
Chicago’s budget shortfall could skyrocket to $1.9 billion by 2026 if the economy takes a nosedive and even under the rosiest scenario, the gap between revenue and expenses would be $789 million by then.
Mayor Brandon Johnson didn’t take his predecessor’s word for it when Mayor Lori Lightfoot said she’d left the city in great financial shape, with an $85 million shortfall. And it’s a good thing the new mayor was skeptical, his top aides told some City Council members in a budget briefing.
Mayor Brandon’s three-year budget forecast is a far cry from the rosy picture painted by his predecessor, Lori Lightfoot, who had projected an $85 million 2024 budget shortfall.