But that money can’t make up for lost taxes and other revenues, which Illinois State Comptroller Susana Mendoza says is a huge challenge for the state’s already beleaguered finances.
“That is where we need the help,” she said. “That $3.5 billion could go towards paying the $1.7 billion hole that was just blown in this year’s budget because of lost tax revenue. Right now we’re not allowed to use it for that, but I’m hoping that the federal guidelines change.”
Mendoza says the financial damage from the pandemic is staggering, and it will take help from Washington to claw out of it.
“It blew what is likely going to be about a $7 billion bill backlog on top of the $7 billion we had before the pandemic,” Mendoza said. “That’s where we need the federal government’s help.”
“Chicago Tonight” is expanding its community reporting. We’re hitting the streets to speak with your neighbors, local businesses, agencies and leaders about COVID-19, the economy, racial justice, education and more. See where we’ve been and what we’ve learned by using the map below. Or select a community using the drop-down menu. Points in red represent our series COVID-19 Across Chicago; blue marks our series “Chicago Tonight” in Your Neighborhood.