Chicago Revises 2026 Budget Shortfall Down to $89 Million
Chicago officials lowered their projected 2026 budget shortfall to $89 million, but the city has not adopted a plan to close the remaining gap.
Brandon Johnson
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Johnson says Chicago faces $130 million gap after expected revenue falls short
Mayor Brandon Johnson said Chicago is $130 million short after revenue sources in the city’s 2026 financial plan did not generate the expected funds.
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Illinois Secretary of State Alexi Giannoulias launches Chicago mayoral campaign
Illinois Secretary of State Alexi Giannoulias announced his campaign for Chicago mayor on Aug. 2, 2026, entering the developing 2027 race with nearly $22 million in campaign cash reported as of July.
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Chicago faces $130 million revenue shortfall as new forecast nears
Mayor Brandon Johnson said Chicago is $130 million short of revenue expected under assumptions tied to the City Council-approved 2026 spending plan. A new forecast is expected by the end of August.