Mayor Brandon Johnson issues warning about state of Chicago's budget
Chicago Mayor Brandon Johnson warned that the city is going to have to make some tough decisions when it comes to the budget.
"Our city is truly at a crossroads right now," Mayor Johnson said Monday. "Chicago is facing a projected budget gap of $1.12 billion in Fiscal Year '26. We essentially need to do more with less."
The mayor on Monday signed an executive order establishing a new working group tasked with fixing the city's finances.
The group will consist of businessmen, labor leaders, aldermen, and civic groups.
They will be asked to search for efficiencies in city programs — identifying where money can be saved and finding new sources of revenue.
The members of the group will be named by April 30. Their initial report is due by the end of August.