Dire outlook

The City of Chicago budget mid-year hearings are done and the outlook for this year's budget is not looking good. The gap going into the late fall hearings is about $1.15 Billion. A panel commissioned by the Mayor has come out with many recommendations to make cuts, find efficiencies and add in a mix of revenue ideas.

Aldermen will have a chance to implement some of these ideas as we move forward, but the multi billion dollar budget gaps for the next couple of years also requires the Administration to stop some spending practices. For more on this topic, I'll be on WGN Political Report with Paul Lisnek this Sunday at 9 a.m. to discuss the state of the city budget.

If you want to dig into the mid-year budget the 2026 City budget forecast PDF document is found here, and the Chicago Financial Future Task Force findings and recommendations are found here.