CHICAGO (WGN) — Chicago Mayor Brandon Johnson on Friday released his forecast for the city's fiscal year 2026 budget amid a projected $1.15 billion deficit, driven by weaker business, tax revenues, pension uncertainty, and more.

"Chicagoans deserve the truth about the fiscal conditions of the city," Johnson said on Aug. 29, delivering what he described as "harsh truths" at a Zoom presentation for the City Council. The mayor went on to spell out some of the reasons for the projected $1.15 billion deficit in fiscal year 2026.

"The drivers are clear: Rising personnel costs, rising health and pension costs, combined with the loss of one-time supports that previously helped balance the budget," Johnson said.

Joe Ferguson, a former inspector general for the City of Chicago who is now presiden

See Full Page