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.

By Meha Ahmad, Stephanie Kim
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.

By Meha Ahmad, Stephanie Kim

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