Quote:
Originally Posted by west-town-brad
that was the plan, yes
but the city and state (not just IL but all around the country) did not lose any tax revenue. in fact revenues are way up.
that's why you see the silly programs like $15 million in free gas cards and the $500/month guaranteed income program
Chicago IS a big city with lots of wasted spending
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Those were proverbial pennies to get the alderman to approve spending the real money on deficits.
There was about a $750 million deficit last year that the Covid funds backfilled, and $385 million more for this year, and a few hundred million for next year. On top of increased expenses for police, maintenance, etc.
Just $30 million went to the guaranteed income thing.
There wasn’t a realistic pool of money to do much else with in the city (that could also get enough votes for larger deficit spending).
The state surplus might have come from capital gains so hardly reliable and no guarantee that they’ll be in good shape if the stock market continues having its issues.