Quote:Chicago Mayor Lori Lightfoot is considering tax hikes to help plug the city’s $1.2 billion budget deficit, according to a report.

The city is weighing a $94 million property tax hike, raising the gas tax and laying off more than 300 workers to help fill the gap, the Chicago Tribune reported.

Other potential cost-saving measures include a five-day furlough for all nonunion city employees, shifting some costs onto the books of the Chicago Public Schools and raising the cloud-computing tax.

Lightfoot is set to unveil her plan at a press conference on Wednesday.

The COVID-19 pandemic caused Chicago’s gross domestic product to decline by 10% from a year ago, leading to a $799 million mid-year 2020 budget shortfall.

The economic damage caused by the pandemic was a sharp blow to Chicago’s most recent attempt to get its fiscal house in order. Lightfoot last year identified more than $500 million in structural solutions, the most since 2012, to fill the city’s record $838 million gap.

Chicago has a long way to go even if the budget gap is filled. The city is burdened with $46.5 billion of unpaid bills and has just $10 billion cash, according to a July 2020 report released by Truth in Accounting.

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What concerns me most about them Liberals is, they just don't get it!

D's answer is to ALWAYS raise taxes. Nothing new here.

U-Haul is about to get rich in Illinois.

Was in Chicago this past weekend and it’s literally a **** hole. Trash everywhere, all around the highway and traffic 24/7. Murder is through the roof...


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Was a mayoral pay and staff cut in her proposal. Every little bit helps ya know.

(10-19-2020 02:18 PM)VA49er Wrote:  D's answer is to ALWAYS raise taxes. Nothing new here.

you're right. She should follow the lead of republicans. Cut taxes but do nothing to cut spending.

I am sure there are quite a few dollars in public property repairs as well, cuz you know, all those peaceful protests...........

(10-19-2020 02:37 PM)NCeagle Wrote:  

(10-19-2020 02:18 PM)VA49er Wrote:  D's answer is to ALWAYS raise taxes. Nothing new here.

you're right. She should follow the lead of republicans. Cut taxes but do nothing to cut spending.

I agree, that would be stupid as well.

Great solution to a pandemic induced shutdown that blew a hole in tax revenue due to businesses having to involuntarily shut down, so they have no revenue coming in at all. Raise taxes. That should help jumpstart those struggling folks.

Can't make this schit up, the level of dumb is astonishing.