Lightfoot: Budget Will Likely Contain New Taxes Or Hikes

Lori Lightfoot
Photo credit WBBM Newsradio/Craig Dellimore

CHICAGO (WBBM NEWSRADIO) -- Mayor Lightfoot says higher and even new taxes may be inevitable in her first Chicago city budget.

She is quick to say her administration will look for savings and other efficiencies before it considers raising or imposing new taxes.

But the situation is clear, given a budget deficit estimated at more than $700 million.

Lightfoot said she can’t talk about specifics until her team figures out ways to save money. One idea would be to reduce some of those huge judgements and court settlements the city has been paying out.

When the budget plan is ready, Lightfoot said, she’ll deliver a major speech, and make sure the deliberations will be public and not rushed.