Lightfoot Aides Unpack Chicago’s $1.2 Billion Budget Shortfall

Mayor Lori Lightfoot says “all options are on the table” when it comes to closing the city’s historic budget gap for 2021.

Mayor Lightfoot Outlines Bleak Budget Forecast: $1.2 Billion Gap For 2021
In this April 10, 2020, file photo Chicago Mayor Lori Lightfoot speaks during a news conference in Hall A at the COVID-19 alternate site at McCormick Place in Chicago. Mayor Lightfoot announced a $1.2 billion hole in the 2021 budget on Monday, Aug. 31, 2020. Nam Y. Huh, File / AP Photo
Mayor Lightfoot Outlines Bleak Budget Forecast: $1.2 Billion Gap For 2021
In this April 10, 2020, file photo Chicago Mayor Lori Lightfoot speaks during a news conference in Hall A at the COVID-19 alternate site at McCormick Place in Chicago. Mayor Lightfoot announced a $1.2 billion hole in the 2021 budget on Monday, Aug. 31, 2020. Nam Y. Huh, File / AP Photo

Lightfoot Aides Unpack Chicago’s $1.2 Billion Budget Shortfall

Mayor Lori Lightfoot says “all options are on the table” when it comes to closing the city’s historic budget gap for 2021.

Chicago faces an estimated $1.2 billion gap in 2021 due largely to revenue losses from the coronavirus pandemic — and that’s on top of a $800 million deficit for the rest of this year.

Reset checks in with the city’s budget director and its chief financial officer discuss the mayor’s plans to tackle the budget crisis, and what that could mean for taxpayers and city services.

GUESTS: Susie Park, budget director for the city of Chicago

Jennie Huang Bennett, Chicago’s chief financial officer