From The Chicago Tribune:
Mayor Lori Lightfoot considering $94 million property tax increase, more than 300 city worker layoffs and gas tax hike as part of plan to close $1.2 billion budget gap, sources say
Chicago Mayor Lori Lightfoot is considering a $94 million property tax increase, layoffs for more than 300 city workers and a gas tax hike as part of her plan to close a $1.2 billion budget deficit, sources told the Tribune.
Lightfoot also is considering about $500 million in refinancing city debt to help close the deficit, sources said.
The mayor is scheduled to explain her plans to close the city’s coronavirus-fueled budget deficit on Wednesday. One thing is clear: It won’t be easy.
The flow of people leaving Chicago is going to turn into a torrent. Elections have consequences.
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