Chicago: Federal Bailouts Won’t Save City Finances


Chicago is adding to its deficit even as it receives a federal bailout.




NRPLUS MEMBER ARTICLE

F
inances are so shaky in Chicago that, even with an infusion of $3.5 billion in federal aid, Mayor Lori Lightfoot included a $76.5 million property-tax hike in her new budget plan. That tax hike would raise residential-property-tax bills by an average of $72 to $180, depending on the region of the city.

Chicago’s business community directly pushed back on the mayor’s approach. “With the historic level of federal funding coming to the city we can avoid a property-tax increase that impacts all residents and businesses,” the Chicagoland Chamber of Commerce responded. They’re right, but reformers face an uphill battle to convince the …





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