Mayor Lightfoot leaves Mayor-elect Johnson with strong city budget
CHICAGO (CBS) -- Mayor Lori Lightfoot is leaving her successor a parting gift before leaving office – a strong city budget.
The Mayor's office on Tuesday announced it projects a budget shortfall of just $85 million in 2024. On the city's current trajectory, according to the Mayor's office, the shortfall will be just $21 million by 2026.
For comparison, when Mayor Lori Lightfoot took office in 2019, the budget deficit was $838 million.
When asked what advice she had for incoming Mayor Brandon Johnson, Lightfoot said – to some laughs - "Don't screw it up."
"We're delivering this up on a silver platter," Lightfoot said. "Continue the work, stay the course, and things will continue to shine bright for the City of Chicago."
Lightfoot's announcement does come with a catch. Her projections assume the city's property tax levy will rise to match increases in the cost of living – a controversial policy Lightfoot implemented in 2020.
During the campaign, Johnson promised not to raise Chicagoans' property taxes.