Lightfoot Bets on Improving Economy, Uses Federal Relief Funds to Balance Budget – WTTW (Chicago)

The city’s $12.8 billion 2021 spending plan authorized the city to hike property taxes automatically based on an increase in the cost of living. That will generate about $22.9 million in additional property tax revenues in 2022, officials said. In addition, the city will raise property taxes by $25.5 million to start paying off the $1.4 billion the City Council agreed to borrow as part of the 2021 spending plan to repair Chicago’s crumbling streets, sidewalks, bridges and shoreline.
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Old Spartan
4 years ago

Reparations. More handouts to non-working residents. Property tax increases. Relying on rich Uncle Sam’s one time gift. This is comedy hour for anyone who has ever taken an Econ 101 class. Where is the press? Where is the business community? Where is a coalition of higher ed profs? Is there anyone left in Chicago who gives a darn?

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Ex Illini
4 years ago

Every bet Lori has made has been wrong. This won’t be any different.

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The Paraclete
4 years ago

Not unlike buying a home you can’t afford and depending on future lottery winnings for the mortgage.

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Tom H
4 years ago

WTTW, is it really truly balanced if it rely’s on bailout funds? Also look into the details (the real details) and it still isn’t even remotely close to balanced.

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Wally
4 years ago
Reply to  Tom H

She increases the budget 60% relying on bailout funds. Next year, when there are no bailout funds, will she cut the budget 60%?

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The Paraclete
4 years ago

? It’s just play money until the bill comes due. Lori has increased taxes to help.

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