Chicago budget deficit balloons to almost $1 billion under Mayor Johnson

 Chicago Mayor Brandon Johnson says the city’s budget deficit will grow to nearly $1 billion next year.

The report estimates a $222.9 million deficit for the end of 2024 and a $982.4 million deficit in fiscal year 2025.

Chicago Fifth Ward Republican Committeeman Tyler Shasteen said Mayor Johnson did not inherit the budget gap.

The mayor’s office released the city’s 2025 Budget Forecast on Thursday.

“Don’t forget that the mayor also rolled over a $50 million budget surplus from 2023 into this year’s budget and still had this large of a deficit,” Shasteen said.

Mayor Johnson said the budget forecast presents a significant challenge for the city.

According to Chicago Budget Director Annette Guzman, the forecasted budget gap is a clear indication of the financial pressures facing the city. 

https://www.thecentersquare.com/illinois/article_06f9db7e-6649-11ef-ad4b-c3d5b3c078a8.html