'State Of City' Includes An $838 Million Budget Deficit, Lightfoot Says

Craig Dellimore
August 29, 2019 - 3:32 pm

(Photo by Scott Olson/Getty Images)

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CHICAGO (WBBM NEWSRADIO) -- The city of Chicago faces an $838 million budget deficit for the upcoming fiscal year, Mayor Lori Lightfoot said Thursday during the first “State of the City” address for her fledgling administration.

Lightfoot stopped short of suggesting how city leaders will fill the gap, but looming large in the background are potential tax increases. The mayor said retooling a state-authorized casino for Chicago and allowing the city to retain more profits would help ease the burden.

The projected budget deficit was worse, $1 billion, when Lightfoot took over for outgoing Mayor Rahm Emanuel earlier this year, she said.

The city’s unpaid pension obligations are a major cause for Chicago’s financial woes.

Lightfoot said she’ll unveil a budget with specifics later this year, after holding public forums and talking with aldermen on the City Council.