November 14, 2019 Comments Off on Lightfoot 2020 Budget Elicits Plaudits, Concerns from Watchdog Group Views: 545 Chicago News, Top Chicago

As Mayor Lori Lightfoot brings a legislative wish list to Springfield, the nonpartisan Civic Federation offered plaudits and concerns about the $9.9-billion municipal budget she’s proposed for fiscal 2020.

The watchdog group praised Lightfoot’s focus on savings and efficiencies, along with targeted taxes, to close an $838-million deficit, rather than broad-based tax increases. “However, this plan leaves very little room for error and does rely on some aggressive assumptions, including state and federal assistance that has not yet been approved,” said federation president Laurence Msall.

The federation’s report cited some real estate-related concerns with Lightfoot’s budget. For one, it plans to rely on gaming revenues in future years, although the question of whether a Chicago casino will be built is still up in the air.

Further, the federation sees “potential for large property tax increases or major cuts if certain revenue sources do not come through as planned.”

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Tags: Economy, Financing, Politics

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Lightfoot 2020 Budget Elicits Plaudits, Concerns from Watchdog Group

Paul Bubny