With less than two months until Election Day, Mayor Lori Lightfoot touts the $16.4 billion spending plan she crafted as a “stability budget” for a city enjoying a faster than expected recovery from the COVID-19 pandemic. Here’s what it does:
Mayor Lori Lightfoot unveils the forecast for the 2023 Chicago budget on Aug. 10, 2022.
Projections released along with the budget anticipated spending $250 million as part of what Lightfoot calls the Chicago Recovery Plan by the end of 2022. That will mark the first time in history Chicago officials will pay more than required toward its four pension funds, in an effort to save nearly $2 billion in future pension costs and prevent significant investment losses because of the declining stock market, city officials said.
But the city will spend at least another year without a department dedicated to protecting Chicago’s environment and fighting climate change.
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