Mayor Lori Lightfoot will face the biggest test of her time in office on Wednesday when she details her plan to fill the massive budget shortfall caused in part by the coronavirus pandemic.

In a typical year, approximately 3% of property owners do not pay their taxes, according to Chicago officials. But in 2021, a projected 10% of property owners won’t pay their tax bills, which would cost the city $65.2 million.

After the president refuses to participate in a virtual debate, it is canceled by the Commission on Presidential Debates. The city faces a nearly unsolvable budget problem as federal stimulus talks break down. And the “fair tax” fight heats up.

Mayor Lori Lightfoot this week painted a grim picture ahead of her Oct. 21 budget address as the city tries to close a massive budget gap. Our politics team tackles those stories and more in this week’s roundtable.

City officials are working to craft a plan to fill a projected $1.2 billion budget shortfall in the 2021 fiscal year — without the hope of more aid from the federal government.

The funds will allow “tens of thousands more patients served, better access to care for the underserved and integrated care for the whole person,” officials said.

Mayor Lori Lightfoot said the plan she sends to the Chicago City Council will not count on the federal government sending additional relief funds to the city. 

Chicago’s looking at a lot of red ink due to coronavirus-related shutdowns. What kinds of cuts might the city soon see to keep its financials afloat? We speak with four people who will likely have a say in those decisions.

Each year, city officials define a budget for Chicago. While the city budget process includes public hearings, an event Saturday sought to get community input on their budget priorities.

Several aldermen on Friday urged Chicago’s chief financial officer to dip into the city’s $900 million savings account to wipe out the massive budget shortfall caused by the coronavirus pandemic.

Chicago’s chief financial officer warned aldermen Monday that taxing big firms and financial transactions would not help dig the city out of a massive budget hole caused by the coronavirus pandemic.

The office designed to help aldermen keep tabs on how the city spends tax dollars detailed a proposal on Thursday that finds savings by cutting “perks” and things that are “nice to have, but need not have.”

On top of that colossal shortfall, the city’s financial picture worsened significantly during the past three months because of an “economic catastrophe caused by the coronavirus pandemic,” according to Mayor Lori Lightfoot.

In 2018, the City Council’s most powerful committee spent approximately $2 million — the most of any of the legislative committees. The following year, the committee spent $1.1 million. The difference? Ald. Ed Burke resigned as chair on Jan. 4, 2019. 

Mayor Lori Lightfoot took the first step Thursday toward making the long-planned Chicago casino a reality, asking firms interested in building and operating “a unique entertainment and gaming experience” to make their pitch to city officials.

Chicago is facing a lot of unfunded infrastructure needs in the coming years, according to officials. And it’s not just roads, bridges and streetlights that need work. The city’s lakefront is grappling with another year of high lake levels.