Chicago Faces $700 Million Budget Gap Due To Pandemic

Mayor Lori Lightfoot says the pandemic has had a “devastating impact” on the city’s finances, which will be felt beyond 2020.

photo of downtown Chicago
According to City Hall budget officials, Chicago has received more than $1.13 billion from the CARES Act. Bill Healy / WBEZ
photo of downtown Chicago
According to City Hall budget officials, Chicago has received more than $1.13 billion from the CARES Act. Bill Healy / WBEZ

Chicago Faces $700 Million Budget Gap Due To Pandemic

Mayor Lori Lightfoot says the pandemic has had a “devastating impact” on the city’s finances, which will be felt beyond 2020.

Mayor Lori Lightfoot on Tuesday announced that Chicago is facing an estimated $700 million budget shortfall because of the coronavirus pandemic.

Reset takes a look at what lies ahead for taxpayers as the city grapples with its finances.

GUESTS: Becky Vevea, WBEZ city politics reporter

Laurence Msall, president of the Civic Federation